This study discusses inflation and personal (consumer) loans in Turkey and it also investigates the relationship between inflation and sub-components of personal loans namely residential loans, consumer loans, vehicle loans, individual credit cards. Using the monthly data for the study 2004:11-2015:03, the effects of total personal loans, residential loans, consumer loans, vehicle loans and individual credit cards on inflation have been analyzed by cointegration and Granger causality tests. According to the results of the analysis, it is not necessary to perform the Johansen cointegration test since all the variables are static in level. According to the results of the Granger causality test, a one-way causality relationship from inflation to vehicle loan, from vehicle loan to individual credit cards, from residential loan to individual credit cards has been determined, while a bi-directional causality between individual credit cards and inflation has been observed.
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