By Bosphorus News Economy Desk
Türkiye recorded the highest annual inflation rate in the Organisation for Economic Co-operation and Development in June, although consumer price growth eased to 32.1% from 32.6% in May.
Inflation across the OECD declined to 4.2% from 4.6% after three consecutive monthly increases. The annual rate fell in 20 member countries, rose in six and remained stable or broadly stable in 12.
Bosphorus News previously examined Türkiye's widening inflation gap with the OECD, noting that the country entered 2026 with consumer price growth far above the rest of the organization.
Türkiye's June rate was more than seven times the OECD average and remained well above every other member economy. Colombia recorded the second-highest reading at 6.1%, followed by Lithuania at 5.7% and Iceland at 5.2%.
Food inflation accelerates
Food prices in Türkiye rose 35.4% from a year earlier, accelerating from 34.9% in May. Energy inflation eased to 41.5% from 45%, while inflation excluding food and energy declined to 30% from 30.6%.
Price increases outside food and energy contributed 20.6 percentage points to the headline rate. Food added 8.6 points and energy contributed 2.9 points, leaving underlying inflation as the largest component of the annual increase.
Across the OECD, food inflation declined to 3.4% and inflation excluding food and energy fell to 3.6%. Energy inflation dropped by four percentage points to 11.7%, with slower increases recorded in 24 of the 37 countries for which data were available.
Energy inflation nevertheless rose in 10 member countries and remained above 15% in six.
Prices stand 839.4% above December 2019
Consumer prices in Türkiye were 839.4% higher in June 2026 than in December 2019, by far the largest cumulative increase among OECD members.
Hungary recorded the next-highest increase at 58.4%, followed by Colombia at 53.7% and Lithuania at 51.6%. Consumer prices across the OECD rose by 39% over the same period.
Türkiye's annual rate has continued to decline, but food, energy and inflation excluding those two categories all remained at or above 30% in June.
Among the Group of Seven economies, annual inflation fell to 3% from 3.5%. Japan was the only member to record an increase, with its rate edging up to 1.7%.
Euro-area inflation declined to 2.8% from 3.2% as energy inflation slowed and food inflation reached its lowest level in five years.
Sources: Organisation for Economic Co-operation and Development, Bosphorus News review and reporting.