What your money actually earned, after inflation

In a high-inflation economy every investment looks like a winner in nominal lira. This calculator replays your investment through the actual monthly series for exchange rates, gold, the index, deposit rates and consumer prices, then tells you whether it beat inflation or just looked like it did.

Inputs

What you put the money in

Amount invested

TRY

From

Verified 6 Oct 2026TCMB, TUIK and market series

Result

-36.2%real return after inflation

₺365,109

what it became, in lira

₺572,350

needed just to keep pace with inflation

+265.1%

nominal return in lira

+0.0%

return in US dollar terms

Purchasing power lost: 36.2%The lira figure grew, but prices grew faster. This money buys less than it did in 2022-01.

Your investment: ₺365,109Inflation pace: ₺572,350

When the solid line sits below the dashed one, the investment is losing to inflation even while the lira number grows.

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Methodology and sources

Price instruments (dollars, gram gold, BIST 100) are bought at the start-month value and marked at each later month. Deposits compound monthly at the weighted average rate for TRY deposits up to one year, net of the withholding in force in each period (the up-to-six-month bracket applied per period: 5% before May 2024, then 7.5%, 10%, 15%, and 17.5% since July 2025, set as the standing rate by Decree 10041; currently 17.5%). The real return deflates the outcome by the CPI index between the two months; the dollar-terms return converts at the start and end month rates.

TCMB daily indicative FX bulletins: https://www.tcmb.gov.tr/kurlar/ (XML archive, USD ForexSelling)
LBMA Gold Price PM fix official archive: https://prices.lbma.org.uk/json/gold_pm.json
BIST 100 monthly closes from Yahoo Finance XU100.IS, since Borsa Istanbul sells index history only through its data service: https://query1.finance.yahoo.com/v8/finance/chart/XU100.IS
TUIK data portal, consumer price index table (2003=100) under price statistics: https://veriportali.tuik.gov.tr/tr/statistical-themes
TUIK data portal, consumer price index table (2025=100), used to chain 2026: https://veriportali.tuik.gov.tr/tr/statistical-themes
TCMB weekly deposit rates (flow, weighted average), series TP.TRY.MT04, new TRY deposits up to one year, read without a key from the EVDS table: https://evds3.tcmb.gov.tr/charts/portlet/Njk4YjFkODBkNmMwM2YxNDg2MjQ0ZmUx/en; the monthly value is the mean of the month's Friday values
Deposit withholding (stopaj), the standing 17.5% rate since July 2025: Presidential Decree 10041, Official Gazette 9 Jul 2025, https://www.resmigazete.gov.tr/eskiler/2025/07/20250709-6.pdf; GIB guide to temporary art. 67, 2026 edition, https://cdn.gib.gov.tr/api/gibportal-file/file/getFileResources?objectKey=arsiv%2Ffileadmin%2Fbeyannamerehberi%2F2026%2F2026_Gecici67.pdf
Deposit withholding (stopaj), the 2024 to 2025 decrees in the Official Gazette: 8434 (1 May 2024) https://www.resmigazete.gov.tr/eskiler/2024/05/20240501-1.pdf, 8775 (1 Aug 2024) https://www.resmigazete.gov.tr/eskiler/2024/08/20240801-1.pdf, 9075 (1 Nov 2024) https://www.resmigazete.gov.tr/eskiler/2024/11/20241101-4.pdf, 9487 (1 Feb 2025) https://www.resmigazete.gov.tr/eskiler/2025/02/20250201-2.pdf

Historical information only. How these instruments performed says nothing about how they will perform, and nothing here is investment advice.