ISTANBUL, Dec 31 (NNN-ANADOLU) – Turkey’s shopkeepers gradually started to lower the prices of goods, as the Turkish currency rebounded.
The prices of almost every item in grocery stores, shops, and supermarkets soared during the last two months, in particular due to a sharp depreciation of the lira, accompanied by high inflation, which was over 21 percent in Nov.
There was an increase of up to 40 percent in paper towel products, over 400 percent hikes were seen in sunflower oil. Coffee prices skyrocketed by 300 percent, since the beginning of the year, reaching 150 liras per kilogram.
The currency plunged to a record low of 18.30 against one U.S. dollar last week, losing nearly 60 percent of its value, since the start of the year. The sharp depreciation of lira forced the government to impose new measures to rescue the currency.
Under the new plan, the lira regressed to around 12 levels against the dollar.
Now all eyes are on the prices of basic goods, which have long started to compel many citizens suffering from financial difficulties.
At a Carrefour store in the Harbiye neighbourhood, the price of two litres of sunflower oil was reduced to 59 liras from 69.
Refusing to give more details about the reduction, a Carrefour personnel murmured that the discount is “negligible,” and it could even be interpreted as “no decline at all” when considering a 400 percent increase.
Abdullah Gonen, an owner of a supermarket in the Kucukcekmece district of Istanbul, said, “The declines in prices are not sustainable because the gain of the lira is temporary, and it will keep losing its value against the greenback,” while revising the price tag of a pack of diapers from 45 to 39.9 liras.
Turkish citizens are also eagerly waiting for the prices in grocery stores to come down.
“I ordered a small pack of cheddar cheese, a box of cigarettes, and a one-litre bottle of water,” Yagmur Iscan, a 29-year-old Istanbul citizen, residing in the European side of Besiktas district, said.
“I couldn’t believe my ears when the cashier asked me to pay 78 liras,” she said, noting that price hikes had no limit and the situation was unsustainable.– NNN-ANADOLU
