Turkey’s Medium Term Program projects annual inflation to decline to 28.4 percent by the end of this year and fall to 9 percent by 2029 under an eight-point disinflation path, according to Anadolu Ajansi.
Disinflation trajectory and projections
The program covers the 2027-2029 period and charts a continuous decline across the forecast horizon, while authorities maintain targets intended to return the economy to single-digit price growth over the coming years. Officials target 21 percent next year.
Inflation should fall to 13.5 percent in 2028. The program projects a 9 percent rate in 2029, following a steady adjustment path designed to bring domestic monetary conditions into balance across successive policy phases.
Global pressures and historical progress
Turkey’s disinflation process began in June 2024 after price pressures peaked. Annual inflation reached 75 percent in summer 2024.
Regional conflicts including the US and Israel-Iran war alongside global trade uncertainties slowed the disinflation process between January and August, but consumer price gains nonetheless cooled to an annual rate of 31.51 percent in August.
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Source: Turkey's Medium Term Program
