Economy in Turkey: TUIK announces inflation data for March as 2.46 percent

The Turkish Statistical Institute (TÜİK) revealed the inflation data for March 2025. According to the data, the Consumer Price Index (CPI) rose by 2.46% in March, and the annual inflation rate decreased to 38.10%.

This marks a continued decrease in inflation. Economists had expected CPI to rise by 2.90% in March, with the annual inflation rate dropping to 38.70%. Economists had been closely monitoring the political situation and exchange rate fluctuations, and while they noted the exchange rate shock in the second half of the month, they believed its impact would be limited due to intervention. They also revised their year-end inflation expectations upward.

In February, inflation was lower than expected, with a 2.27% monthly increase and annual inflation recorded at 39.05%. For the end of 2025, it is now forecast that the Consumer Price Index will reach 30.10%, up from the previous month’s expectation of 28.25%.

Inflation Trend in the Last Three Months

The change in CPI for March 2025 compared to December of the previous year was 10.06%, while the twelve-month average increase was 51.26%.

Food Inflation Increased by 37.12%

The highest weighted three major expenditure groups saw the following annual changes: food and non-alcoholic beverages increased by 37.12%, transportation by 21.59%, and housing by 68.63%. The contribution of these groups to the annual inflation rate was: 9.51% from food and non-alcoholic beverages, 3.65% from transportation, and 9.47% from housing.

The monthly changes in these major groups were: food and non-alcoholic beverages increased by 4.94%, transportation by 0.25%, and housing by 2.10%. The contribution to the monthly inflation rate was: 1.23% from food and non-alcoholic beverages, 0.04% from transportation, and 0.33% from housing.