Development of inflation rates in Turkey
The inflation rate for consumer prices in Turkey moved over the past 40 years between 6.3% and 105.2%. For 2019, an inflation rate of 15.2% was calculated.
During the observation period from 1979 to 2019, the average inflation rate was 41.3%
per year. Overall, the price increase was 43,119,233.68 %. An item that cost 100 Lira in 1979 was so charged 43,119,333.68 Lira in the beginning of 2020.
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