inflation

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Wraps without meat, baklava without nuts: Turkey's new street foods reflect deep poverty

Wraps without meat, baklava without nuts: Turkey's new street foods reflect deep poverty

"Plain" versions of Turkey's popular street foods, dishes and desserts have emerged one after another over the past months as the economic crisis is felt more strongly.

2 April 2022 Volga Kuşçuoğlu

Turkey's annual producer inflation in agriculture tops 68 percent

TURKSTAT

Turkey's annual producer inflation in agriculture tops 68 percent

The Turkish Statistical Institute has announced the producer price index of agricultural products for February: The producer inflation rate was 13.74 percent monthly and 68.49 percent yearly while some prices saw a nearly 200-percent annual increase.

Turkey's annual producer price index exceeds 100 percent in February

Turkey's annual producer price index exceeds 100 percent in February

D-PPI increased by 202.51 percent in electricity and 115.13 percent for intermediate goods.

Turkey’s annual consumer inflation rate tops 123 percent, finds research group

Turkey’s annual consumer inflation rate tops 123 percent, finds research group

Shortly before TurkStat shared the official inflation rates for February 2022, the Inflation Research Group (ENAG) announced that the annual consumer inflation rate was 123.8 percent and monthly inflation rate was 5.44 percent last month.

TurkStat: Annual consumer inflation rate was 54.44 percent in February

TurkStat: Annual consumer inflation rate was 54.44 percent in February

In February 2022, transportation with 75.75 percent, furnishings and household equipment with 64.83 percent and food and non-alcoholic beverages with 64.47 percent were the main groups that saw high annual increases in prices in Turkey.

Women’s poverty in Diyarbakır: ‘What we go through is nothing but slavery’

Women’s poverty in Diyarbakır: ‘What we go through is nothing but slavery’

Women are especially hit by increasing prices at bazaars and markets and increases in bills in Turkey. Fahriye from Diyarbakır says, “Some days, I cry because I cannot buy anything” while Özlem says, “We can have only one meal a day.”

18 February 2022

VAT on basic food products reduced to 1 percent by a Presidential decision

VAT on basic food products reduced to 1 percent by a Presidential decision

Amid increasing prices and people’s decreasing purchasing power, the Value Added Tax on basic food products has been reduced from 8 to 1 percent. Economists warn that this reduction may not affect the price tags with other costs cited as the reason.

14 February 2022

Turkey's official inflation stands at 48 percent, research group says 114 percent

HIGHEST RATE SINCE 2001 CRISIS

Turkey's official inflation stands at 48 percent, research group says 114 percent

According to the TurkStat, in January 2022, the annual consumer inflation rate was 48.69 percent in Turkey while the Inflation Research Group (ENAG) has estimated the same rate as 114.87 percent.

3 February 2022

HDP proposes adjusting minimum wage in Turkey every 3 months

HDP proposes adjusting minimum wage in Turkey every 3 months

Garo Paylan, the HDP Vice Co-Chair Responsible for the Economy, says, “The wage increase has melted before minimum wage earners have it in their pockets”, noting that Erdoğan has taken back a lot more than the wage increase he gave to people.

3 February 2022

Different inflation forecasts by Turkey’s Central Bank Governor, Finance Minister

Different inflation forecasts by Turkey’s Central Bank Governor, Finance Minister

While Central Bank Governor Kavcıoğlu, in a press briefing on January 27, announced the 2022 year-end inflation forecast as 23.2 percent, Minister of Treasury and Finance Nebati said a day before: “Inflation will be around 40 percent for some time.”

28 January 2022

Turkey’s Central Bank revises up year-end inflation forecast to 23.2 percent

Turkey’s Central Bank revises up year-end inflation forecast to 23.2 percent

According to the Turkish Statistical Institute (TurkStat), Turkey’s annual inflation rate was 36.08 percent in December 2021. The Inflation Research Group (ENAG), on the other hand, estimated the same rate as 82.81 percent.

27 January 2022

Turkey keeps interest rate constant

Turkey keeps interest rate constant

The Central Bank has kept the interest rate at 14 percent, saying that it will use all instruments decisively "until strong indicators point to a permanent fall in inflation."

20 January 2022

'Figures are a lie, poverty is real': Union members protest TurkStat after inflation announcement

'Figures are a lie, poverty is real': Union members protest TurkStat after inflation announcement

The lowest civil servant salary should be above the poverty line for a family of four, according to the KESK.

Turkey’s annual inflation rate is over 82 percent, finds research group

Turkey’s annual inflation rate is over 82 percent, finds research group

Shortly before TurkStat shared the official inflation rates for December 2021, the Inflation Research Group (ENAG) announced that the annual consumer inflation rate was 82.81 percent and monthly inflation rate was 19.35 percent last month.

Annual inflation tops 36 percent in Turkey, according to TurkStat

DECEMBER 2021

Annual inflation tops 36 percent in Turkey, according to TurkStat

The Turkish Statistical Institute has announced that the Consumer Price Index increased by 13.58 percent monthly and 36.08 percent annually in December 2021.

Drifting from one mistake into another

Drifting from one mistake into another

It is not possible for the state to compensate the difference between the exchange rate increase and the interest rate for a long time. The possibility of an election in the fall has increased very much.

22 December 2021 Bülent Danışoğlu

'Minimum wage for all'

WEEKLY ROUNDUP #13

'Minimum wage for all'

Government raises minimum wage sharply but lira is sinking faster • Is the main reason for drought in Turkey the climate crisis or wrong water policies? • Four deaths in a week put spotlight on ill prisoners’ situation

18 December 2021 Volga Kuşçuoğlu

Only one country’s central bank cuts policy rate in December: Turkey

Only one country’s central bank cuts policy rate in December: Turkey

The central banks of 14 countries have increased the policy rate this month. The only bank which has reduced it is Turkey's Central Bank. The depreciation of the Turkish Lira against foreign exchanges has hit almost 100 percent since September 2021.

17 December 2021

CHP leader not allowed to enter TurkStat building after inflation announcement

CHP leader not allowed to enter TurkStat building after inflation announcement

Questioning the accuracy of the TurkStat figures, Kılıçdaroğlu wanted to visit officials of the statistical authority. He was not allowed to enter the building.

3 December 2021

Turkey’s annual inflation rate is almost 60 percent, finds research group

Turkey’s annual inflation rate is almost 60 percent, finds research group

Shortly before the state agency TurkStat announced the official consumer inflation rate in Turkey in November 2021 as 21.31 percent, the Inflation Research Group (ENAG) had announced its own figure: 58.65 percent.

3 December 2021

Turkey's official inflation rate climbs to highest in three years

Turkey's official inflation rate climbs to highest in three years

The annual inflation rate stood at 21.32 percent and the monthly inflation rate was 3.51 percent, according to the TurkStat.

3 December 2021

Erdoğan insists interest rates cause inflation, cites his 'economics education'

Erdoğan insists interest rates cause inflation, cites his 'economics education'

Thanks to his low interest rate policies, the inflation rate will decrease by the next elections, the president has asserted.

29 November 2021

Increasing food prices in Turkey: ‘We cannot make a living’

CITIZENS SPEAK OUT

Increasing food prices in Turkey: ‘We cannot make a living’

With the prices constantly rising, citizens find it more and more difficult to afford food: “Due to the price policy of the government, citizens are once again having a hard time making ends meet. The price tags at markets change every week."

19 November 2021 Atiye Eren,Melissa Feza Katlar

Turkish lira hits new record low after Erdoğan reiterates his inflation-interest rate theory

Turkish lira hits new record low after Erdoğan reiterates his inflation-interest rate theory

The president has signaled a new interest rate cut ahead of the Central Bank meeting.

17 November 2021

Finance minister: High inflation is a problem not only in Turkey, but in the world

Finance minister: High inflation is a problem not only in Turkey, but in the world

Minister of Treasury and Finance Lütfi Elvan says that they are aware of the fluctuations in the financial markets and exchange rates, attributing the increasing inflation rates in Turkey to global effects.

12 November 2021

Turkey’s annual consumer inflation rate nears 20 percent

TURKSTAT DATA

Turkey’s annual consumer inflation rate nears 20 percent

The state agency Turkish Statistical Institute has announced the consumer price index for October 2021: While monthly inflation stands at 2.39 percent, annual inflation has been measured as 19.89 percent.

3 November 2021

Grocery shopping trips of two families highlight food inflation

Grocery shopping trips of two families highlight food inflation

The two families had to spent a significant part of their retirement pensions to buy only fruits, vegetables and bread.

14 October 2021 Hikmet Adal

Turkey’s annual inflation rate hit 19.58 percent in September, says TurkStat

Turkey’s annual inflation rate hit 19.58 percent in September, says TurkStat

The Turkish Statistical Institute has announced the Consumer Price Index for September 2021: It increased by 19.58 percent annually and by 1.25 percent monthly.

Turkey posts record-high producer inflation in agriculture

Turkey posts record-high producer inflation in agriculture

In July, agricultural input price index has increased by 29.38 percent compared to same month last year.

20 September 2021

Turkey posts highest annual inflation rate in two years

Turkey posts highest annual inflation rate in two years

The inflation rate stood at 19.25 in August, surpassing the Central Bank's policy rate, according to TurkStat.

3 September 2021

‘Turkey saw the highest July inflation of the last 18 years’

CHP VICE CHAIR AĞBABA

‘Turkey saw the highest July inflation of the last 18 years’

Main opposition CHP Vice Chair Veli Ağbaba has underlined that Turkey’s consumer inflation is higher than 172 countries of the world.

Turkey's annual inflation rate at 18.95 percent in July

Turkey's annual inflation rate at 18.95 percent in July

The annual increase in the prices of food and non-alcoholic beverages was 24.92 percent, according to TurkStat.

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