Food prices in Turkey are rising rapidly. According to official figures, prices have risen by 30%, but traders say they have doubled in just one year. President Erdogan has blamed large supermarkets.
Check the pricing policy of five major food chains – this order was given by Turkish Trade Minister Mehmet Mus. Probing has already begun, and the reason is well known: food prices in Turkey have been rising steadily for quite some time. According to Turkish media, these are products such as eggs, milk and vegetables, up to washing powders.
What are the reasons for such growth?
The German newspaper Frankfurter Allgemeine Zeitung (FAZ) recalls in this regard the warning of President Erdogan that rising prices “turn all markets upside down.” The president blamed the country’s largest supermarkets without naming specific names, but as a result of the action, 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 have risen even more – by about 30 percent. Moreover, these are official Turkish statistics, which 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, with supermarkets in nine provinces under scrutiny, including Istanbul, Ankara, Bursa, Izmir and others. Authorities warn consumers that some retailers are keeping prices down but cutting costs. According to President Erdogan, the problem exists mainly in large networks. And in Turkey, their market share is almost 80%. However, inflation is also fueled by rising prices for water, electricity and gas. Economists fear that it will be at a high level in the past month.
The FCC quoted the Turkish president as saying that the authorities would stop “excessive price increases on store shelves.” Erdogan promises that the price will be reduced, and the auctionists will be fought.