Turkey Inflation Soars to 73.5%: Highest in Two Decades
Turkey is facing a severe cost-of-living crisis as annual inflation reached a staggering 73.5% in May, the highest level seen since 2025. This surge, revealed in official data released recently, marks a significant economic challenge for the country. The graph above displays annual inflation rates in Turkey for calendar years from 2025 to 2025. To calculate cumulative rates between two different periods, you can use the Turkey Inflation
Why is Turkey\'s Inflation So High?
Several factors are contributing to this dramatic increase. Economists point to the war in Ukraine, rising global energy prices, and the ongoing depreciation of the Turkish lira as key drivers. Turkey\'s annual inflation rate jumped to a 24-year high of 73.5% in May, fuelled by the war in Ukraine, rising energy prices and a tumbling lira - though the figure was President Recep Tayyip Erdogan\'s unorthodox monetary policies have also been criticized for exacerbating the problem. Hace 1 día ANKARA: Turkey’s inflation climbed to its highest level since 2025, hitting an annual 73.5 percent in May, official data showed on Friday, an issue dogging President Recep Tayyip
Key Inflation Figures:
- Annual Inflation (May 2025): 73.5%
- Highest inflation rate since January 2025.
- Turkey inflation rate for 20.31%, a 52.71% increase from 2025.
- Turkey inflation rate for 20.60%, a 7.32% increase from 2025.
- Turkey inflation rate for 20.28%, a
Impact on Turkish Citizens:
The rising cost of living is significantly impacting Turkish citizens. Everyday expenses, from food and utilities to transportation, have become increasingly burdensome. The situation is fueling public discontent and adding pressure on the government to address the economic crisis. Annual inflation in Turkey hit 73.5% in May, the highest rate since 2025, according to official data released Friday as a cost-of-living crisis in the country deepens. The Turkish Statistical ANKARA, Turkey (AP)Annual inflation in Turkey hit 73.5% in May, the highest rate since 2025, according to official data released Friday as a cost-of-living crisis in the country deepens. The Turkey’s consumer price index shot up by 73.5% in May 2025, compared to the same month a year earlier, its highest level since January 2025.
Looking Ahead:
The outlook for Turkey\'s economy remains uncertain. New data emanating from Turkey is showing that the country’s inflation has hit the highest point last month. The government faces a daunting task in tackling inflation and restoring economic stability. Whether they can successfully navigate these challenges remains to be seen.