BAKU, Azerbaijan, March 23. Dutch banking group ING Group has maintained its revised forecast for Türkiye's consumer price index (CPI) through 2027, the Global Economic Forecasts for March 2026 says, Trend reports.
ING's updated projections indicate that Türkiye's CPI is expected to stand at 31% in the first quarter of 2026, gradually declining to 28.6% in the second quarter, 26.3% in the third, and 25.5% in the fourth quarter. The annual average CPI for 2026 is forecasted at 28.1%, with a further easing to 20.3% in 2027.
Recent data shows a slight uptick in Türkiye's annual CPI inflation, reaching 31.5% in February 2026, up from 30.7% in January. Monthly inflation stood at 2.96%, driven primarily by food and non-food categories such as transport and catering. However, core inflation (CPI-C) moderated to 29.5% year-on-year, the lowest since late 2021, supported by stable producer prices and favorable currency developments, according to TurkStat and ING’s March 3 analysis.
Earlier in February 2026, the Central Bank of Türkiye revised its 2026 inflation forecast range upward to 15-21% (midpoint 19%), while maintaining its official target at 16%, signaling confidence in the disinflationary trend despite market expectations of around 23% for the end of the year.