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Central Bank of Turkey raises 2026 inflation forecast to 28 percent
The Central Bank of the Republic of Turkey (TCMB) has revised its year-end inflation forecast for 2026 upward to 28 percent, from a previous estimate of 26 percent. During the presentation of the third Inflation Report of the year, Governor Fatih Karahan attributed the revision to supply-side pressures, including rising costs for diesel, natural gas, and other non-energy commodities, as well as higher food price expectations.
Looking further ahead, the bank maintains its medium-term targets, projecting inflation to drop to 15 percent by the end of 2027 and 9 percent by the end of 2028, with a long-term goal of reaching 5 percent stability. Karahan emphasized that the bank will maintain a tight and cautious monetary policy stance to achieve price stability, utilizing all available tools to combat inflation.
Regarding the bank's financial position, Karahan reported that gross reserves increased from 155 billion USD on March 27 to 185 billion USD as of August 12. Net reserves, excluding swaps, rose by 35 billion USD to reach 56 billion USD during the same period. Despite the upward revision in inflation forecasts, the Governor noted that disinflationary trends continue in the services sector, though geopolitical uncertainties and volatile energy prices remain significant risks to the economic outlook.
Entities
Central Bank of the Republic of Turkey · Central Bank of the Republic of Türkiye · Fatih Karahan · Istanbul Finance Center
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 6 SOURCES] The disinflation process has slowed due to supply-side pressures. www.ekoturk.com · www.manisahaberleri.com · www.konhaber.com · haber.doviz.com · www.haberaktuel.com · +1 more
- [● 5 SOURCES] The Central Bank will maintain a tight monetary policy stance until price stability is achieved. www.ekoturk.com · www.aksiyon.com.tr · www.aydinpost.com · www.haberaktuel.com · tr.shafaqna.com
- [● 12 SOURCES] The inflation forecast for the end of 2028 is set at 9 percent. www.sozcu.com.tr · www.haberankara.com · www.konhaber.com · www.aksiyon.com.tr · www.karar.com · +7 more
- [● 2 SOURCES] Gross reserves rose from 155 billion USD on March 27 to 185 billion USD as of August 12. www.aksiyon.com.tr · www.medyagazete.com
- [● 19 SOURCES] The Central Bank of the Republic of Turkey raised its year-end inflation forecast for 2026 from 26 percent to 28 percent. www.ekoturk.com · www.sozcu.com.tr · www.haberankara.com · www.konhaber.com · haber.doviz.com · +14 more
- [● 13 SOURCES] The inflation forecast for the end of 2027 is set at 15 percent. www.sozcu.com.tr · www.haberankara.com · www.konhaber.com · www.aksiyon.com.tr · www.karar.com · +8 more