Inflation rate (consumer prices): 9.8% (2006 est.)
Definition:This entry furnishes the annual percent change in consumer prices compared with the previous year’s consumer prices
Source: CIA World Factbook
Inflation rate (consumer prices) by Year Chart
In the year of 2007;
Inflation rate(consumer prices):9.8%
Date of information:2006 est.
Turkey’s economy grew an average of 6.0% per year from 2002 through 2007–one of the highest sustained rates of growth in the world. It is expected to grow about 5.5% in 2008. Inflation and interest rates have fallen significantly, the currency has stabilized, government debt has declined to more supportable levels, and business and consumer confidence have returned. At the same time, booming economic growth has contributed to a growing current account deficit. Though Turkey’s vulnerabilities have been greatly reduced, the economy could still face problems in the event there is a sudden change in investor sentiment. Continued implementation of reforms, including tight fiscal policy; securing independent Central Bank monetary policies, is essential to sustain growth and stability.