Turkey Lifts Year-End Inflation Forecast to 28.4 Percent
Vice President Cevdet Yilmaz said the revised outlook is far above last year’s 16% estimate as inflation slows from a 75.5% peak.
- On Sunday, Vice President Cevdet Yilmaz announced Turkey raised its year-end inflation forecast to 28.4 percent when unveiling the country's medium-term economic programme for 2027-2029.
- The war in the Middle East played a key role in the upward revision; effects were "estimated at approximately seven percentage points," Yilmaz said, versus last year's 16 percent forecast.
- Annual inflation in Turkey eased to 31.51 percent in August, continuing a downward trend from more than 75 percent peak, reflecting the impact of government policies implemented to slow price growth.
- Under the new programme, inflation is projected to fall to 21 percent in 2027, 13.5 percent in 2028, and nine percent in 2029, outlining the government's medium-term stabilization roadmap.
- Despite the revised forecast, Yilmaz said the government has made "significant progress in combating inflation," which remains the top priority of its economic programme moving forward.
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16 Articles
The Economic Times
Turkey lifts year-end inflation forecast to 28.4 percent
In a notable revision, Turkey has elevated its inflation forecast for the end of 2026 to 28.4 percent, a figure that surpasses last year's estimates. The adjustment has been attributed to the repercussions of the Middle East war. While inflation is expected to taper off to nine percent by 2029, government strategies are believed to be playing a pivotal role in this declining trend.
Turkey has increased its inflation forecast for the end of the year to 28.4% due to the effects of the Middle East war, announced on Sunday the Turkish Vice-President Cevdet Yilmaz by unveiling the country's economic programme for the period 2027-2029. Istanbul (awp/afp) "We expect that inflation will start to fall again in the fourth quarter of 2026 and that it will reach 28.4% by the end of the year", said Cevdet Yilmaz in a television address…
The new Medium-Term Program, covering the period 2027-2029, aims to ensure the uninterrupted continuation of the disinflation process. Annual consumer inflation, which was 31.51 percent in August, is projected to fall to 28.4 percent by the end of 2026, 21 percent in 2027, 13.5 percent in 2028, and 9 percent in 2029.
Turkey raises year-end inflation forecast to 28.4 percent from 16 percent - Turkish Minute
Turkey has raised its year-end inflation forecast to 28.4 percent from 16 percent, blaming the war involving the United States, Israel and Iran for higher energy and commodity prices. Vice President Cevdet Yılmaz announced the revised projection on Sunday while unveiling the government’s medium-term economic program for 2027–2029. “We expect inflation to begin declining again […]
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