Turkey Inflation Hits 31.53% in February

Turkey’s annual inflation rose to 31.53% in February 2026, as consumer prices increased 2.96% on a monthly basis, according to official data.

The latest figures indicate that inflation remains elevated, although the broader trend points to a gradual easing compared to previous periods. The data came largely in line with market expectations, which had forecast a monthly increase close to 3%.

Key Data and Market Expectations

• Monthly inflation (CPI): 2.96%
• Annual inflation: 31.53%
• 12-month average: Above 50%

The figures were broadly in line with economists’ forecasts, suggesting a continued but controlled slowdown in price increases.

Services and Food Drive Price Pressures

Price increases in February were mainly driven by the services sector, particularly education-related costs. Food prices also remained a key contributor to overall inflation, maintaining upward pressure on household expenses.

In contrast, clothing prices recorded relatively moderate changes during the same period.

Disinflation Trend Continues with Risk

Despite signs of disinflation, economists caution that short-term risks remain. Inflation continues to stay above the 30% level, highlighting persistent structural pressures in the Turkish economy.

Analysts expect inflation to fluctuate within the 30–32% range in the near term, while year-end projections are estimated at around 24%.

The effects of tight monetary policy are anticipated to become more visible in the coming months, supporting a gradual decline in inflation.

Source: TÜİK