Central Bank Governor Announces: Inflation Target Raised
Inflation Forecasts Revised Upward
The Governor of the Central Bank, Fatih Karahan, has presented the second inflation report of the year, announcing a significant revision in the inflation outlook. According to the new statement, the year-end inflation forecast has been raised from 16% to 26%.
Karahan also stated that the inflation target has been set at 24%, indicating a shift in the monetary policy outlook amid changing economic conditions.
Food Inflation Expectations Increased
One of the most notable revisions in the report concerns food inflation. The previous forecast of 19% has been increased to 26.3%, reflecting continued pressure on food prices.
“No Targets Were Met”
Karahan noted that the revision was driven by extraordinary geopolitical developments, which have affected economic stability and price dynamics.
According to the updated projections, the inflation targets for the coming years have also been adjusted. The 2027 target, previously set at 9%, has been increased to 15%, while the 2028 target has been revised from 8% to 9%.
Earlier Report Also Showed Upward Revision
The Central Bank of the Republic of Turkey (CBRT) had already revised its forecasts in its first report of the year, published on February 12.
At that time, the 2026 year-end inflation forecast range was increased from 13–19% to 15–21%, reflecting rising costs and ongoing economic volatility. The 16% interim target for 2026, however, was kept unchanged.
Central Bank Governor Fatih Karahan announces revised inflation forecasts, raising year-end inflation expectations to 26% and adjusting long-term targets amid economic pressures.
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