Türkiye’s annual inflation eases to 31.75% in July, below expectations

Türkiye‘s annual consumer inflation eased to 31.75% in July, according to official data released Monday.

The annual rate slowed from 32.11% in June, the Turkish Statistical Institute (TurkStat) said.

Consumer prices increased 1.78% on a monthly basis in July, accelerating from a 0.99% rise in June.

Both figures came slightly below market expectations.

An Anadolu survey had forecast an annual inflation of 31.8% and a monthly increase of 1.82%.

The consumer price index rose 19.86% compared with December 2025, while the 12-month moving average increase stood at 31.90%.

Among the three expenditure groups with the largest weights, annual prices increased 40.32% for housing, water, electricity, gas and other fuels, 37.53% for food and non-alcoholic beverages, and 30.83% for transportation.

Food and non-alcoholic beverages contributed 8.94 percentage points to the annual inflation rate, transportation 5.22 points, and housing 5.21 points.

On a monthly basis, transportation prices rose 2.59%, housing costs increased 2.25%, and food and non-alcoholic beverage prices climbed 1.61%.

Of the 174 expenditure subclasses covered by the index, prices increased in 117, declined in 50, and remained unchanged in seven.