Page 24 - TURKRptNov21

4.2 Inflation
Vehicle prices in Turkey have increased more than 200% y/y and at least 20% y-t-d, business daily Dunya reported on October 18. Automakers were planning to increase their prices by at least 5% starting from November in the face of the 10% m/m depreciation of the Turkish lira. The price hike may incrementally reach 12% by January 2022.
The price of bread in Istanbul is to be hiked to TRY2.5 from TRY2, marking a 25% hike. Monthly inflation was released at 2%, if you buy it.
PERFECT STORM: Price hikes in fertilizers, postal services, furniture materials, electricity, coal and fuels (gasoline, diesel, LPG) have cooked up a perfect storm.
Right now, the Turkish government, famous for collecting eye-wateringly high
24 TURKEY Country Report November 2021 www.intellinews.com