Central Bank to Announce Inflation Report in Istanbul on August 13

The Central Bank of the Republic of Turkey (CBRT) will announce the third Inflation Report of the year on August 13 in Istanbul. According to the announcement from the CBRT, President Fatih Karahan will hold a briefing meeting at the CBRT Istanbul Financial Center on August 13 at 10:30 to introduce the "Inflation Report 2026-III". The meeting will be held in person and will be broadcast live on the CBRT's website and various social media platforms and YouTube account. The Central Bank had announced its second Inflation Report in May. Due to the impact of the war in the Middle East and rising oil prices on inflation, the forecasts in the second report were updated, and the inflation forecasts for 2026, 2027, and 2028 were revised upward. Central Bank President Fatih Karahan stated, "We forecast that inflation will be 26 percent at the end of 2026 and 15 percent at the end of 2027. We predict that inflation will decline to 9 percent by the end of 2028 and then stabilize at around 5 percent in the medium term." Karahan also mentioned that the inflation intermediate target has been updated. The intermediate target for 2026 has been raised to 24 percent, for 2027 to 15 percent, and for 2028 to 9 percent. According to the latest data announced for July, inflation increased by 1.78 percent on a monthly basis. Annual inflation rose to 31.75 percent. Whether there will be any changes in the inflation targets will become clear with the report to be announced on Thursday.