Turkey’s annual inflation eased to 30.9 percent in December, marking the fourth consecutive month of decline and a sharp drop from 44.4 percent a year earlier, official data showed Monday.
According to the Turkish Statistical Institute (TUIK), the 12-month average inflation for 2025 stood at 34.9 percent, down from 58.5 percent in 2024. The figure aligns with the central bank’s forecast of year-end inflation around 31–33 percent.
Inflation peaked at 75 percent in May 2024 before gradually falling, reaching its lowest level since November 2021. Turkey has faced double-digit inflation since 2019, following President Recep Tayyip Erdogan’s interest rate cuts aimed at boosting economic growth.
TUIK data showed significant price increases over the past year in key sectors, including education (66 percent), housing (49.5 percent), food (28.3 percent), and healthcare (30.1 percent).
However, the official figures are contested by ENAG, an independent economist group, which reported year-on-year inflation at 56.14 percent in December and a month-on-month increase of 2.11 percent from November.
Last month, Turkey’s central bank reduced its benchmark interest rate to 38 percent from 39.5 percent amid slowing inflation. It cautioned that despite improvements, inflation expectations and pricing behaviours “continue to pose risks to the disinflation process.”
