Turkey's skyrocketing food prices show no sign of slowing
Ill-advised policies over the decades have reduced Turkey to a net food importer despite its significant agricultural potential, fueling a dramatic increase in food prices that deals the hardest blows to the poorest citizens.
Turkey’s consumer inflation overshot expectations in October, climbing 2.67% and bringing year-on-year inflation to 25.2%, much to the chagrin of Treasury and Finance Minister Berat Albayrak, the president’s son-in-law, who had declared an “all-out fight against inflation” in mid-September.
The details of the inflation data, released Nov. 5, show that food prices shot up nearly 30% from October last year. In the subcategory of fresh fruits and vegetables, the increase was even more staggering, hitting 50%.
