FX.co ★ Turkey’s Core Inflation Eases to 29.8% in January, Extending Downward Trend

Turkey’s core inflation, measured by the CPI excluding energy, food, beverages, tobacco and gold, slowed to 29.8% year-over-year in January 2026, down from 31.1% in December 2025. The latest data, updated on 3 February 2026, signal a further easing of underlying price pressures in the Turkish economy.

The year-over-year indicator compares January 2026 prices with those of January a year earlier, while the December 2025 figure reflected a similar comparison with December of the previous year. The decline from 31.1% to 29.8% suggests that, despite still-elevated price growth, core inflation is gradually moderating.

This softening in core inflation will be closely watched by markets and policymakers, as it offers a clearer view of Turkey’s underlying inflation trend by stripping out more volatile components. The continuation of this downward movement could influence future expectations around monetary policy and economic stability in Turkey.