HomeEconomicShocking inflation in Turkey: hotels rose in price by 66.41%

Shocking inflation in Turkey: hotels rose in price by 66.41%

Data on consumer inflation in Turkey for April have been released. Moreover, it was a shock to travelers and the local tourism industry: compared to the same period last year, hotels rose in price by 66.41%. The relevant report was published by the Turkish Statistical Institute (TÜIK).

According to the data, hotels became the second category that showed the highest price growth both annually and monthly. The first was medicine, which is also important for tourists and relocators — compared to the same month last year, inflation was 66.62%.

As for general figures, inflation in the republic in April was 2.39% compared to the previous month, 15.21% compared to December last year, 43.68% compared to the same month a year earlier, and 67.20% compared to the 12-month average. At the same time, the Inflation Research Group (ENAG) assessed the situation differently. According to them, inflation in the republic increased by 4.86% in April this year and by a record 105.16% over the past 12 months.

Here are the groups in which the biggest price increase compared to March was found:

  1. communication – growth by 5.93%
  2. restaurants and hotels – growth by 4.24%
  3. food products and soft drinks – growth by 3.95%

If we compare the current April with last year, the prices in restaurants and hotels increased by 66.41% over the year, and for food products and non-alcoholic beverages – by 53.92%.

We should add that high inflation in the country, unfortunately, destroyed its main competitive advantage – the ability to keep prices low. As a result, the Turkish tourism industry said that Turkey is becoming uninteresting to European tourists, which the local tourism industry is counting on this year.

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