Turks shift toward gold as inflation expectations rise

Tue Aug 25 2026

Turkish households’ preference for gold increased in August, while the share considering real estate investments declined, according to a survey by the Central Bank of the Republic of Turkiye (CBRT)on Monday.

The survey showed that 41.3 percent of respondents said they would buy gold, up 1 percentage point from the previous month. Gold was the most preferred investment option among those surveyed.

By contrast, the share of respondents who said they would buy a home, shop or land fell 1.4 percentage points to 37.1 percent. Real estate and gold have for years been traditional investment options for Turks seeking to safeguard themselves against stubborn inflation.

Türkiye’s annual consumer price inflation eased to 31.75 percent in July 2026, down from 32.11 percent in June.

Monday’s survey showed households’ expectations for inflation in 12 months time increased 0.64 percentage points to 45.58 percent.

Last week, the central bank adjusted its end-2026 inflation forecast upward to 28 percent from 26 percent mainly due to energy and food price pressures. But it left its interim target unchanged at 24 percent .The bank also kept its interim inflation targets for end-2027 and end-2028 at 15 percent and 9 percent, respectively.

Monday’s survey also showed households continued to identify food and fuel and energy as the product and service groups that had experienced the largest price increases over the previous year.

These are also expected to see the strongest increases over the next 12 months.The share of respondents identifying food as the category with the largest price increase fell 0.4 percentage points to 39.3 percent in August.Households’ expectations for housing price increases over the next 12 months also moderated slightly.

The expected increase in housing prices over the coming year fell 0.36 percentage points to 32.13 percent.

Source: https://www.qatar-tribune.com/