as turkish government Intensify efforts to curb inflation and the country’s treasury and financing minister Reportedly called on domestic manufacturers and retailers To enforce a temporary freeze on the prices.
driven rising Energy, food and housing prices, annual inflation rate in Turkey is 20-year Average of Almost 70%. inflation was rising Despite the tax cuts on basic goods and government subsidies for Water and electricity bills to reduce the burden on family budgets.
Finance Minister Noureddine Nabati urged for The price Repair on side lines of closed meetings with representative of a range of Industries on Thursday to address fluctuations in Prices, Bloomberg News reported, citing a person with direct knowledge of Subject.
In addition to the tax cuts, Nabati said on Twitter agreed with food companies on take ‘daring steps” in their pricing policies.
“We will continue work together or together with All our strength to prevent fluctuations in prices and ensure their stability” minister She said.
During his performances, according to the person cited by Bloomberg, Nabati cited examples of extreme price Increases that harm consumers as well as government caps in another place in The world.
In the notes that seems to confirm Report, Kopuz Group of The general manager of companies, Soner Kobuz said grocery chain stores They did not attend the meeting, but the sugar and oil producers and food suppliers who attended the meeting agreed price Repair.
“The prices were fixed on 30-40 items in Europe or even 60 in Some areas. As oil and sugar producers and food suppliers who We were in the meeting, we also Agree on fix Prices within limits of Possibility,” Kobuz said private Broadcaster Bloomberg HT.
Various tools
Nabati also Repeat the government’s intent to go after these who They are taking advantage of the situation to raise prices for he won.
“conscious of Importance of Breaking the inflationary deadlock, we assured that we will never tolerate unusual increases in the prices ” minister She said.
The government “You will never give up on for us fight against Inflation,” stressing that different tools will be effectively delegated, without going into details.
To further attempt to address the concerns, the government This week pledged arrangements to boost purchasing power of low-income citizens and announced Several measures to address the height real Real estate prices.
The government Realize of Difficulties created by the High cost of President Recep Tayyip Erdogan said, on Monday, that life will be lived, stressing that they will do so work to improve your purchase power of Low-income families through arrangements such as of July.
Rising commodity prices and Russia invasion of Ukraine, resulting in a sudden increase in The prices of gas, oil and grains have exacerbated the situation in Turkey dependent on import.
“In spite of all global Adversity, we will continue to coordinate with Our companies to protect all segments of Nabati said.
Inflation has risen since then last Autumn, as the Turkish lira weakened after the central bank in September embarked on A facilitation cycle of 500 basis points.
The lira fell about 5% against The dollar where last Wednesday and was at its lowest level since December.
Weakened up to 15.4675 against United State dollar And it reached 15.458 at 8:01 a.m. GMT on Friday.
The government He said that inflation will fall below it new economic programwhich prioritizes lower interest rates to boost production and exports with The goal of investigation current Account surplus.
central bank of Republic of Turkey (CBRT) Late last The month has been revised up inflation expectations for This is amazing year and the next The main reason of The rise in Commodity prices and supply issues.
It expects annual inflation to peak at around 70% by June by declining to nearly 43% yearEnd and odd numbers by the end of 2024.
Center bank held by key policy rate fixed at 14% in Four meetings this year Measures and . said policy steps He will give priority to the so-called lira in The market.
Increase retail sales
Separately, the volume of retail sales in Turkey, the sign of Consumer spending increased 2.5% year-over-year in Walks, official The data showed on Friday.
Automobile gasoline sales saw the largest annual sales rise in the month, up 12.4%. This was followed by sales of food, beverages, tobacco and non-food items (excluding motor fuels) with 6.4% and 5.7% increase, respectively.
Among the non-food items itemstextile, apparel, and footwear sales rose the most, jumping 15.8%, followed by medical and cosmetic goods, up 7%. Sales by mail order and the Internet rose 26.4% from a year since in Walks.
On a monthly basis, retail sales volume increased by 0.5%. in Walks with Selling food, beverages and tobacco rising more.
Beverage and tobacco sales increased 4.3% per month on-month and non-food (excluding motor fuels) slightly up by 0.1%. On the other hand, auto fuel sales fell 5.1% from last month in Walks.
