Turkey: energy inflation rate by commodity 2024

The inflation rates of various energy commodities in Turkey skyrocketed in 2022 and again in 2024. The annual rate of change of the energy price inflation peaked in June 2022 at 172.9 percent after climbing continuously from late 2020. August 2022 saw energy inflation drop somewhat, though energy prices were still 133 percent higher than they were that same month in the previous year. Gas and electricity price inflation have also seen significant increases in the period of consideration. Gas inflation skyrocketed with an annual rate of change of over 500 percent at the end of 2024.

Harmonized index of consumer prices (HICP) energy inflation rate in Turkey from May 2019 to November 2024, by commodity

Characteristic	Energy	Gas	Electricity
Nov '24	47.4%	103.8%	38%
Oct '24	63.5%	322.4%	38%
Sep '24	65.2%	470.7%	38%
Aug '24	70.7%	495.8%	38%
Jull '24	83.8%	497.4%	40.6%
Jun '24	89.6%	560.1%	1.9%
May '24	100.9%	573.8%	1.9%
Apr '24	40.6%	8.6%	1.9%
Mar '24	33.9%	13%	-13.4%
Feb '24	32.2%	12%	-13.4%
Jan '24	28.9%	13%	-13.4%
Dec '23	21.1%	-1.5%	-13.4%
Nov '23	13.1%	-13.8%	-13.4%
Oct '23	2%	-58.3%	-13.4%
Sep '23	1.2%	-69.3%	-13.4%
Aug '23	5.1%	-66.6%	3.9%
Jul '23	-12.6%	-72.7%	2%
Jun '23	-27.1%	-76.2%	2%
May '23	-18.1%	-72.4%	17.3%
Apr '23	13.1%	40%	17.3%
Mar '23	26.9%	69.8%	38%
Feb '23	42.3%	78.6%	24.6%
Jan '23	47.2%	81.8%	18.6%
Dec'22	91.8%	125.2%	101.6%
Nov'22	123.5%	132.9%	101.6%
Oct'22	137.4%	138.3%	101.6%
Sep'22	146.8%	145.3%	101.6%
Aug '22	133%	114.2%	68%
Jul '22	142.9%	113.2%	68%
Jun '22	172.9%	135.2%	93.2%
May '22	137.2%	98.6%	68%
Apr '22	135.9%	99.8%	68%
Mar '22	121.1%	67.7%	68%
Feb '22	97.2%	60.1%	86%
Jan '22	89.6%	55.7%	95.5%
Dec '21	48.8%	33.4%	22.1%
Nov '21	35.4%	27.5%	22.1%
Oct '21	27.5%	23.6%	22.1%
Sep '21	23.7%	20.5%	29.1%
Aug '21	22.3%	20.6%	29.1%
Jul '21	22.9%	19.8%	29.1%
Jun '21	17.1%	9.9%	12.3%
May '21	17.1%	10.3%	12.3%
Apr '21	18.1%	10.3%	12.3%
Mar '21	11.4%	6.5%	12.3%
Feb '21	7.3%	5.3%	12.3%
Jan '21	6.1%	4.8%	12.3%
Dec '20	4.1%	3.8%	5.8%
Nov '20	2.7%	3.6%	5.8%
Oct '20	2.4%	3.7%	5.8%
Sep '20	5.4%	4.4%	14.9%
Aug '20	8.8%	14.9%	14.9%
Jul '20	8%	26.6%	14.9%
Jun '20	9.1%	25.5%	32.1%
May '20	5.3%	25.2%	32.1%
Apr '20	3.1%	24.6%	32.1%
Mar '20	10.5%	27.8%	32.1%
Feb '20	17.3%	28.7%	32.1%
Jan '20	19.8%	29.3%	32.1%
Dec '19	14.6%	21.2%	18.9%
Nov '19	10.1%	19.8%	18.9%
Oct '19	8.4%	19.9%	18.9%
Sep '19	7%	25.7%	12.8%
Aug '19	10.7%	21.1%	23%
Jul '19	17.3%	16.4%	34%
Jun '19	13.6%	17%	16.5%
May '19	15.7%	17%	16.5%
Apr '19	17.3%	17.4%	16.5%
Mar '19	19.6%	17.8%	19.9%
Feb '19	17.1%	16.5%	19.9%
Jan '19	14.8%	15.4%	19.9%

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Release date

December 2024

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Region

Turkey

Survey time period

January 2019 to November 2024

Supplementary notes

According to the source, the Harmonized Indices of Consumer Prices (HICP) measure changes in the prices of consumer goods and services over time. These indices provide comparable measures of inflation.

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Energy price inflation rate in Turkey 2019-2024, by commodity