Turkey: Inflation at 44.4% by 2024 Year-End
Price growth is expected to slow to 21 percent by the end of 2025
At the end of December 2024, Turkey’s inflation rate stood at 44.4% year-on-year, in line with the Turkish Central Bank’s forecasts. Last week, the Turkish Central Bank cut its interest rate for the first time since March, bringing it to 47.5% from 50%.
In a press release, the central bank said it will “continue to prudently set monetary policy, step by step, meeting by meeting, with a focus on fighting inflation.”
In early January 2025, analysts at the Central Bank of Turkey said that inflation in Turkey should fall to 21% by the end of 2025, with interest rates also continuing to fall in the coming months.
