2026.04.0307:36:23UTC+00Turkey Inflation Rate Slows More than Expected in March

Turkey’s annual inflation rate eased to 30.87% in March 2026, down from 31.53% in February—its highest level since October 2025—and came in below market expectations of 31.4%. The weaker-than-anticipated figure indicates that the expected rise in fuel prices and weather-driven pressures on food inflation have, so far, been more moderate than forecast.

On a sectoral basis, inflation slowed for food and non-alcoholic beverages (32.36% vs. 36.44% in January), housing (42.06% vs. 42.33%), education (51.97% vs. 55.78%), and hotels, cafés, and restaurants (31.66% vs. 32.93%). By contrast, price growth accelerated in transport (34.35% vs. 28.86%), health (29.98% vs. 29.26%), information and communication (24.12% vs. 22.41%), and recreation and culture (27.4% vs. 27.24%).

On a monthly basis, the consumer price index (CPI) rose 1.94% in March, the smallest increase in three months, following a 2.96% gain in February and falling short of the 2.32% market forecast. Transport posted the largest monthly rise (4.52%) and contributed the most to the overall CPI increase.