Türkiye's annual inflation eased to 31.75 percent in July, coming in below market expectations

The Turkish Statistical Institute said on Monday 3 August 2026 (12 Mordad 1405) that the country's annual consumer inflation rate eased to 31.75 percent in July, down from 32.11 percent in June. Consumer prices rose 1.78 percent on a monthly basis, accelerating from a 0.99 percent increase in June.

Both readings came in slightly below market expectations. An Anadolu Agency survey had forecast annual inflation of 31.8 percent and a monthly increase of 1.82 percent. The consumer price index rose 19.86 percent compared with December 2025, while the 12 month moving average increase stood at 31.90 percent.

Among the three expenditure groups with the largest weights, annual prices rose 40.32 percent for housing, water, electricity, gas and other fuels, 37.53 percent for food and non alcoholic beverages, and 30.83 percent for transportation. Food and non alcoholic beverages contributed 8.94 percentage points to the annual rate, transportation 5.22 points and housing 5.21 points. Of the 174 expenditure subclasses in the index, prices increased in 117, declined in 50 and were unchanged in seven.