Is Turkey in hyperinflation?

Turkey has been grappling with severe, sustained inflation, with experts classifying its economy as hyperinflationary for financial reporting (IAS 29) since April 2022. While the 3-year cumulative inflation rate surpassed 291% by late 2024, annual rates are projected to decrease in 2025-2026, though high inflation persists, impacting purchasing power and business operations.

What countries are hyperinflated in 2025?

Countries with the highest inflation 2025. In 2025, Venezuela had the highest inflation rate worldwide, with prices increasing by almost 270 percent compared with the previous year. South Sudan had the second-highest rate of inflation at 97.5 percent, followed by Zimbabwe at 89 percent, and Sudan at 87.2 percent.

Is Turkey a hyperinflationary economy?

We believe that Suriname remains hyperinflationary. Türkiye (Turkey) – The IMF WEO reported a 3-year cumulative rate of inflation of 291% as of December 2024. For 2025, the IMF WEO forecasts an annual rate of inflation of 31% (2026: 19%) and a 3-year cumulative rate of inflation of 212% (2026: 125%).

What's happening in Turkey in 2025?

Widespread protests began throughout Turkey on 19 March 2025 following the detention and arrest of Istanbul mayor Ekrem İmamoğlu and more than 100 other opposition members and protesters by Turkish authorities.

Which countries currently have hyperinflation?

Countries with three-year cumulative inflation rates exceeding 100%:

• Argentina.
• Egypt.
• Ethiopia.
• Ghana.
• Haiti.
• Iran.
• Lao P.D.R.
• Lebanon.

Why Türkiye Is Not Fixing It's Hyperinflation Problem | Economics Explained

Could hyperinflation happen in the UK?

So there is no chance whatsoever of hyperinflation happening in the UK because our system would simply not allow it. We are in a position that we can always safely create the money to pay our bills, and we always will be so long as a few conditions are met.

What is the inflation rate in Turkey?

Turkey Inflation Rate Lowest Since 2021

Turkey's annual inflation rate slowed to 30.89% in December 2025 from 31.07% in the previous month, missing market expectations of 31%.

Is Turkey safe to be in right now?

Turkey - Level 2: Exercise Increased Caution.

Should I take lira or euros to Turkey in 2025?

It's the only legal tender in Turkey. Local shops, transport services, and restaurants mostly deal in Lira. Paying in Lira avoids the poor exchange rates offered at shops that accept Euros.

Why is Turkey having hyperinflation?

Turkey's economic policy mistakes have led to excessive inflation, major currency weakness, and disappointing economic growth performance. The Trump administration would do well to study Turkey's economic experience over the past decade, if it is to avoid the economic mistakes that got that country into deep trouble.

Why is Turkey so expensive in 2025?

According to the report, the price spike is due to a rash of highly pathogenic avian influenza outbreaks in late 2024 and early 2025 that depleted flocks and led to egg shortages.

Which country has the worst inflation in 2025?

Venezuela faces the highest inflation on the planet, at 269.9% in 2025, and this is set to jump to 682% in 2026.

How close are we to hyperinflation?

Hyperinflation: An Uncommon Anomaly in a Major Economy

Experts also believe that high inflation that breaches the inflationary bar of 1000% per year is highly unlikely in a developed economy. The United States, for example, is nowhere near the hyperinflation rate.

Which country will be last to escape inflation?

Australia will be the last country to escape inflation.

Why are tourists leaving Turkey?

Hyperinflation and President Erdoğan's economic policies mean prices are constantly increasing – and these are inevitably passed on to visitors, meaning Turkey is no longer the budget destination it once was.

Do female tourists have to cover up in Turkey?

Dress more formally

You'll show respect and get more respect in return. Female travellers do not need to cover their hair unless visiting a mosque.

Is there a risk going to Turkey?

Monitor local media and follow advice from authorities (see 'Safety'). There is an increased risk of terrorist attacks around large gatherings. Be alert to threats, especially in crowded public settings. You'll need an e-visa for tourism or business if you're staying less than 90 days (see 'Travel').

Is the UK richer than Turkey?

Turkey has a GDP of $1.36T compared to $3.69T for the United Kingdom, ranking 17/197 and 6/197 by economy size, respectively. Turkey has $353B in government debt (27.1% of GDP), compared to $3.73T (105.4% of GDP) in the United Kingdom.

What are major issues in Turkey?

Issues

• Conservation of biodiversity.
• Air pollution.
• Waste disposal.
• Noise.
• Climate change.
• Water.
• Pollution.
• Drought.

What is the average salary in Turkey?

The average monthly salary in Turkey is 35,000 Turkish Lira (TRY), equivalent to approximately USD 909. However, wages vary depending on factors such as education, experience, location, position, and industry.

Why is Turkish inflation so high?

It is characterized by the Turkish lira (TRY) plunging in value, high inflation, rising borrowing costs, and correspondingly rising loan defaults. The crisis was caused by the Turkish economy's excessive current account deficit and large amounts of private foreign-currency denominated debt.

What is the forecast for the Turkish Lira in the next 5 years?

As of September 2025, they anticipate the exchange rate to begin at 38.91 Liras per USD, reaching a high of 40.30 and a low of 38.91, with an average of 39.46. By December 2025, the forecast suggests an opening rate of 39.27 Liras, peaking at 41.06 and bottoming at 39.27, averaging 40.01.

Which country has the highest inflation rate in Europe?

These figures are published by Eurostat, the statistical office of the European Union. The lowest annual rates were registered in Cyprus (0.0%), France (1.1%), Italy and Greece (both 1.8%). The highest annual rates were recorded in Romania (8.6%), Estonia (5.3%), Croatia and Slovakia (both 4.6%).