December inflation data to be unveiled on Jan 5

ANKARA

The Turkish Statistical Institute (TÜİK) will release the closely watched inflation figures for December on Jan. 5.

According to a survey conducted by AA Finans, 33 economists projected that the Consumer Price Index (CPI) rose by 0.96 percent in December.

Expectations for monthly inflation varied between 0.55 percent and 1.24 percent, with the average forecast pointing to a slight moderation in annual inflation.

In November, the CPI had increased by 0.87 percent month-on-month, highlighting the continued yet measured pace of price growth. Based on the survey’s consensus, annual inflation, which stood at 31.07 percent in November, is anticipated to ease marginally to 31 percent in December.

Looking further ahead, economists’ average forecast for year-end inflation in 2026 was recorded at 23.33 percent as of December, reflecting expectations of a gradual decline in inflationary pressures over the medium term.

Following the release of the December inflation data, attention will shift to the Central Bank as the Monetary Policy Committee (MPC) is scheduled to convene on Jan. 22 to determine the key policy rate. At its previous meeting on Dec. 11, the MPC cut the one-week repo auction rate from 39.5 percent to 38 percent.

In total, eight rate-setting meetings are planned for 2026.

The bank’s inflation reports will also remain in focus throughout the year, with the Central Bank set to hold briefing sessions on Feb. 12, May 14, Aug. 13 and Nov. 12.