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Turkey's annual inflation eases to 31.75% in July, the Turkish Statistical Institute says, as lower food prices partly offset higher energy costs. OECD projects inflation below 20% by H1 2027.

Turkey's consumer prices rose 1.78% in July, up from 0.99% in June, slightly slowing annual inflation to 31.75% due to favorable base effects, the Turkish Statistical Institute announced on Monday. Lower seasonal food prices helped offset a rise in energy prices linked to geopolitical tensions. The OECD lowered its 2026 growth forecast for Turkey to 3.1% and projects inflation below 20% by H1 2027.

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