CPI in Turkey

Turkey's CPI measures the change in the cost of a representative basket of household goods and services. Compiled by TurkStat (TÜIK) and rebased to 2025=100 from 2026, it is the country's most closely followed macro release: with inflation having topped 70% at times, it drives central bank policy and the path of the lira.

A chain-linked Laspeyres index; TurkStat publishes the index and its monthly, year-to-date (from December), year-on-year and twelve-month moving-average changes. The series we load are those TurkStat releases, not derived from the index.

It steers the decisions of the Central Bank of the Republic of Turkey and is the benchmark for wage and pension indexation. A worse-than-expected print feeds through to the lira straight away.

As it is not seasonally adjusted, the monthly change is noisy. The methodology and the make-up of the basket have been publicly disputed in Turkey, with alternative estimates (ENAG) running well above the official figures.