Inflation, consumer prices for Turkey
FPCPITOTLZGTUR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
58.51
Year-over-Year Change
558.00%
Date Range
1/1/1960 - 1/1/2024
Summary
The Inflation, consumer prices for Turkey trend measures the annual change in the Consumer Price Index (CPI) for Turkey. It is a key indicator of inflation and economic stability in the country.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Inflation, consumer prices for Turkey trend is a widely followed economic indicator that tracks the rate of change in the prices of a basket of consumer goods and services in Turkey. It provides important insights into the purchasing power of Turkish consumers and the overall state of the country's economy.
Methodology
The data for this trend is collected and calculated by the Turkish Statistical Institute (TurkStat) based on a survey of prices across a representative sample of goods and services.
Historical Context
The inflation rate is closely monitored by the Central Bank of the Republic of Turkey and policymakers to inform monetary policy decisions and manage economic stability.
Key Facts
- Turkey's inflation rate reached a high of 85.5% in October 2022.
- The Central Bank of Turkey has a 5% inflation target.
- High inflation can erode consumer purchasing power and economic growth.
FAQs
Q: What does this economic trend measure?
A: The Inflation, consumer prices for Turkey trend measures the annual change in the Consumer Price Index (CPI), which tracks the prices of a basket of consumer goods and services in Turkey.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the purchasing power of Turkish consumers and the overall state of the country's economy, which is crucial information for policymakers, businesses, and investors.
Q: How is this data collected or calculated?
A: The data for this trend is collected and calculated by the Turkish Statistical Institute (TurkStat) based on a survey of prices across a representative sample of goods and services.
Q: How is this trend used in economic policy?
A: The inflation rate is closely monitored by the Central Bank of the Republic of Turkey and policymakers to inform monetary policy decisions and manage economic stability.
Q: Are there update delays or limitations?
A: The inflation data is typically released on a monthly basis, but there may be occasional delays or revisions due to the complexity of data collection and calculation.
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Citation
U.S. Federal Reserve, Inflation, consumer prices for Turkey (FPCPITOTLZGTUR), retrieved from FRED.