Inflation Turkey 2021
Average inflation: 19.4%
Current Inflation
Inflation is very high at 19.4%, far above the ECB target.
Peak and Trough
The highest inflation was in December at 36.1%. The lowest inflation was in January at 15.0%.
- Highest month
- December: 36.1%
- Lowest month
- January: 15.0%
- Difference
- 21.1 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Transport with an average of 26.4%. The lowest price increase was in Alcoholic beverages, tobacco and narcotics with an average of 4.7%.
- Highest increase
- Transport: 26.4%
- Lowest increase
- Alcoholic beverages, tobacco and narcotics: 4.7%
Historical Context
Current inflation is 4.5% higher than the 5-year average of 14.9%.
- 5-year average
- 14.9%
- 10-year average
- 11.5%
- All-time high (2002)
- 47.2%
- All-time low (2009)
- 6.3%
Trend
Inflation shows an upward trend. Compared to 2020, inflation has risen by +7.1 percentage point.
- Change vs. previous year
- +7.1 percentage points
- Largest monthly swing
- December: +21.5 percentage points
ECB Target
Inflation is 17.4% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €119.40 next year at this inflation rate.
Multi-year trend
Monthly figures 2021
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2020 |
|---|---|---|
| January | 15.0% | +2.8 |
| February | 15.6% | +3.2 |
| March | 16.2% | +4.3 |
| April | 17.1% | +6.2 |
| May | 16.6% | +5.2 |
| June | 17.5% | +4.9 |
| July | 19.0% | +7.2 |
| August | 19.3% | +7.5 |
| September | 19.6% | +7.9 |
| October | 19.9% | +8.0 |
| November | 21.3% | +7.3 |
| December | 36.1% | +21.5 |
| Average | 19.4% |
Data source
Data from OECD. Last updated: 11/01/2026.