Turkey Tops OECD Inflation Chart: Food Prices Up 790% Since 2019

According to the OECD’s latest Consumer Price Report (October 2025), Türkiye posted the highest inflation rate among all member countries in August, highlighting a widening gap between Ankara and advanced economies. The country’s annual inflation hit 33%, while food inflation reached 33.3%, making Türkiye’s cost-of-living surge unparalleled across the OECD bloc.

By contrast, the OECD average inflation rate stood at just 4.1%, with nations like Switzerland and Japan recording some of the lowest figures globally — 0.2% and 2.7%, respectively.

Food Prices Soar Eightfold Since Pre-Pandemic Period

The OECD data reveal one of the most striking patterns in the global economy: Türkiye’s food prices have risen more than 790% since December 2019, while overall consumer prices have climbed 640.5% during the same period.
For context, food prices across OECD countries increased by only 45.8% on average over the same timeframe. This means Turkish consumers have faced a rate of price escalation nearly 18 times higher than the OECD norm.

In August 2025 alone, Türkiye’s:

• Overall inflation rate: 33%

• Food inflation: 33.3%

• Energy inflation: 28.5%

• Core inflation (excluding food & energy): 33.6%

These figures underscore the persistence of broad-based inflationary pressures across all major consumption categories.

Global Comparison: Türkiye in a League of Its Own

Across the OECD, inflation dynamics remain moderate. Colombia (5.1%) and Estonia (6.1%) trail far behind Türkiye in the ranking of high-inflation countries. Meanwhile, several European economies have stabilized inflation near central bank targets:

• Eurozone: 2.0% (steady for three months)

• Germany: 2.2%

• France: 0.9%

• Italy: 1.6%
  Among the G7 nations, average inflation stood at 2.7%, with small increases in the U.S., Germany, and Canada, and a decline in Japan due to falling energy and food prices.

The OECD emphasized that Türkiye’s inflation gap has now reached its widest level in a decade, separating it from the price stability achieved in advanced economies.

Why Türkiye’s Inflation Remains So High

The OECD attributed Türkiye’s persistent inflation to a combination of currency volatility, import-dependent energy costs, and fragile food supply chains. The report noted that recurring shocks to agricultural production, combined with structural weaknesses in logistics and storage, have amplified price spikes in essential goods.
Exchange rate instability continues to exert upward pressure on import prices, while policy uncertainty and inconsistent interest rate management have undermined inflation expectations.

For comparison, Switzerland’s food prices have risen by only 6.9% since 2019, demonstrating how macroeconomic stability and monetary discipline can anchor consumer prices even in a volatile global environment.

Türkiye’s Inflation Challenge Ahead

With cumulative price growth exceeding 600% in less than six years, Türkiye now faces one of the most severe inflationary environments in its modern history. Economists warn that sustained high inflation not only erodes purchasing power but also distorts investment decisions and widens inequality.

The OECD’s findings serve as a clear signal: without credible fiscal and monetary reform, Türkiye risks remaining an outlier in the global fight against inflation, even as much of the world returns to price stability.