The Turkish Statistical Institute (TÜİK) has announced inflation figures for July 2025. According to the data, the consumer price index (CPI) increased by 2.06% in July compared to the previous month, while annual inflation decreased to 33.52%. The monthly increase was below the market expectation of 2.34%.
In June, monthly inflation was 1.37% and annual inflation was 35.05%. Thus, the annual CPI continued its downward trend over the last two months. Economists' annual inflation forecast for the end of 2025 was set at 30.32% as of July.
The domestic producer price index (D-PPI) also increased by 1.73% on a monthly basis in July and increased by 24.19% on an annual basis.
The Central Bank of the Republic of Türkiye (CBRT) stated in the summary of the Monetary Policy Committee (MPC) meeting published on July 24 that a temporary increase in monthly inflation was expected in July. The CBRT noted that administered-guided prices, tax adjustments, and time-dependent pricing behavior in the services sector were contributing to the temporary increase. However, it emphasized that the underlying inflation trend remained moderate.
According to TÜİK data, the change in the CPI (2003=100) in July was 2.06% compared to the previous month, 19.08% compared to December of the previous year, 33.52% compared to the same month of the previous year, and 41.13% compared to the twelve-month average.
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