S&P Global raises Turkey's inflation forecast to 28.9%, mainly due to energy prices

LootboxPhobia · 2026-03-26T22:58:09+00:00

S&P Global has revised Turkey's average inflation forecast for 2026 from 23.4% to 28.9%, mainly due to rising energy prices and the country's increased dependence on energy imports, facing challenges from fluctuations in oil and natural gas prices.

LootboxPhobia

2026-03-26 22:58:09

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Investing.com – S&P Global has raised Turkey’s average inflation forecast for 2026 from 23.4% to 28.9%, citing rising energy prices as the main driving factor.

The rating agency pointed out that Turkey’s heavy reliance on energy imports is a key factor behind the forecast adjustment. Net energy imports account for 3.5% to 4.5% of the country’s GDP, making Turkey vulnerable to fluctuations in oil and natural gas prices.

The upward revision comes at a time when energy price volatility related to the Iran conflict is impacting the region. Turkey has been working to control inflation in recent years, but the current energy price environment poses a challenge to those efforts.

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