Food prices in Turkey are rising uncontrollably. According to official data, the price increase is 30%, but traders say that prices have doubled in just one year. President Erdogan blamed large supermarkets for this, Deutsche Welle reports.
Check the pricing policy of five major food chains – this order was given by Turkish Trade Minister Mehmet Mus. The inspection has already begun, and the reason is known: food prices in Turkey have been rising uncontrollably for some time. According to Turkish media, these are products such as eggs, milk and vegetables, even washing powders.
What are the reasons for rising prices?
In this regard, the German daily Frankfurter Allgemeine Zeitung (FAC) mentions President Erdogan’s warning that rising prices “overturn” entire markets. The president blamed the country’s largest supermarkets for this, without giving exact names, but as a result, the shares of five retail chains lost significantly in price.
The FCC reminds that inflation has plagued Turks for many years, reaching almost 20% in August compared to the same month last year. Food prices are rising even more – by about 30%. This is an official Turkish statistic that many question, believing that inflation is even higher. For example, fruit and vegetable traders claim that prices have doubled in just one year.
Prices for water, electricity and gas are also rising
Turkish media reported that the Ministry of Trade began its inspections earlier this month, under close scrutiny were supermarkets in nine provinces, including Istanbul, Ankara, Bursa, Izmir and others. Authorities warn consumers that some retailers are keeping prices down but losing weight. According to President Erdogan, the problem exists primarily in large networks. And in Turkey, their market share is almost 80%. However, inflation is also spurred by rising prices for water, electricity and gas. Economists fear it will be high again this month.
The FCC quoted the Turkish president as saying that the authorities would stop “excessive price increases on store shelves.” Erdogan promises that costs will be reduced and traders will be fought.