Development of inflation rates in Turkey
The inflation rate for consumer prices in Turkey moved over the past 39 years between 6.3% and 105.2%. For 2018, an inflation rate of 16.3% was calculated.
During the observation period from 1979 to 2018, the average inflation rate was 42.0%
per year. Overall, the price increase was 37,437,409.64 %. An item that cost 100 Lira in 1979 was so charged 37,437,509.64 Lira in the beginning of 2019.
In only a very few countries, the price increase is that high. The rate of 105.2% in 1994 means, that compared to the previous year all prices have been increased by an average of 105.2%. In comparison to other countries, the drastic price increases are no longer on average. Usually this is a sign of political and economic turmoil.Back to overview: Turkey