Image default
Greek News

Reuters: Less for more in Turkey: costly food starves economic rebound – Analysis

Food has become so expensive in Turkey that some people are spending what money they have to stock up on rice and pasta to avoid swallowing even higher prices in the months ahead.

Parents have switched to discount baby biscuits, the cost of eggs has nearly doubled in a year, and a mock photo is circulating on Twitter in which a man on bended knee offers a woman a can of cooking oil instead of an engagement ring.

“We are buying only the absolute necessary and cheapest brands out there. All food prices are rising but especially baby formulas,” said Huseyin Duran, 43, an Istanbul father of three and security guard receiving partial state pay for lost work.

See Also:

Greek Archbishop Ieronymos: Islam is not a religion but a political ideology of conquest

Rumble sues Google

“I worry about my kids,” he said. “We can only meet our rent, groceries and loan payments”.

In a world of near zero inflation and economic fallout from the coronavirus, Turkey stands out with annual consumer prices climbing to 15%, second only to Argentina among emerging markets and by far the highest in the OECD.

Read more: -

Σχετικα αρθρα

Pandemic Accelerates Shift to Online Retail in the US (infographic)

admin

Short-Term Rentals Fall Amid Pandemic Travel Lull (infographic)

admin

The Pandemic’s Uneven Effect on Consumer Spending in the US (infographic)

admin

Elon Musk makes more profit from bitcoin than Tesla sales

admin

Greek trade deficit with Turkey up in January-September 2020

admin

China didn’t become more Western, the West is becoming more Chinese – Analysis

admin

Minimum wages globally – Where is Greece (infographic)

admin

South Korea leads world in innovation as US exits Top Ten (Index)

admin

The Most Innovative Economies in the World (infographic)

admin

Amazon Leads $130-Billion Cloud Market (infographic)

admin

Amazon’s Incredible Long-Term Growth (infographic)

admin

How COVID-19 Hurt Car Markets Worldwide (infographic)

admin