Türkiye lifts 2026 inflation forecast as growth outlook weakens

Türkiye raised its year-end inflation forecast to 28.4% under a new three-year economic program, up from the 16% projection in its previous plan. Annual inflation eased to 31.51% in August from 31.75% in July.

The program lowered the 2026 growth forecast to 3.3% and projected inflation at 21% in 2027, 13.5% in 2028 and 9% in 2029. Officials attributed the revisions partly to higher energy and commodity prices and the effects of war in the Middle East.

The plan assumes average Brent crude prices of $89.3 a barrel in 2026, compared with $64.3 in the previous forecast, and projects an 18.6% increase in non-energy commodity prices. Growth is expected to reach 5% by 2029.

Read the full story at turkiyetoday.com.