Turkey: Inflation reached 80%

Unprecedented increases in food and transport costs are pushing inflation in Turkey to almost 80%. This is a record of the last 24 years.

Locals in Antalya avoid supermarkets because of the higher prices and do their shopping at Terikova street market where most products are much cheaper. The economic crisis in Turkey, however, makes even these more affordable prices unattainable for many families. Galloping inflation puts more and more middle- and low-income Turks in dire financial straits.

Hankan, a vendor at the Antalya open-air market, describes the situation as follows: “Before, the kitchenware I sold here had a more or less fixed price. But now the price has tripled, and so have many other products, such as clothing or sanitary ware, in which prices are now unbelievably high.”

“People are buying less and less”

Consumers who come to the street say that prices now change every week. At a time when transportation costs are constantly increasing, most sellers are forced to pass the cost on to consumers.

Salesman Murat says: “As prices increase, our turnover decreases and our expenses increase. Costs have also increased due to higher fuel prices. To deal with this situation we want to increase turnover, but people are constantly buying less so now that their purchasing power is down because of prices. People aren’t shopping like they used to.”

According to a poll by the Gezici company, more than 70% of respondents said they are struggling to make ends meet as buying meat and fruit has become a luxury in Turkey.

Stefanos Georgakopoulos (CCTV, dpa)

Source: Deutsche Welle