Food prices have fallen to the world’s lowest level in two years, rising for 33 months in Turkey
Although the government tries to legitimize the high domestic food prices as ‘inflation is rising in the world’, the reality is different.
According to the latest data from the Turkish Statistical Institute (TUIK), food prices in the country have continued to rise for 33 months since August 2020.
The world food price index, for its part, fell to its lowest level in two years due to sharp falls in vegetable oils, cereals and dairy products, despite increases in the prices of sugar and meat in May.
DESPITE THE WAR OF UKRAINE IN THE WORLD
The World Food Price Index, compiled by the Food and Agriculture Organization of the United Nations (FAO), which tracks monthly changes in the prices of grains, oilseeds, dairy products, meat and sugar fell to 124.3 in May from a revised value of 127.7 in April.
The April Food Price Index was previously announced at 127.2.
The World Food Price Index for May is 22 percent below the all-time high recorded with the Russian invasion of Ukraine in March 2022.
FOOD INFLATION IN Türkiye 53.92 PERCENT
In Turkey, on the other hand, there is very high food inflation even according to official data.
According to data from TUIK, the Consumer Price Index (CPI) was 43.68 percent annually and 2.39 percent monthly in April. Food inflation, for its part, was 53.92 percent, above the annual CPI.
In April, food prices rose 3.95 percent per month.
LAMB MEAT WHICH NEBATİ SAID ‘CHEAP’ WAS THE CHAMPION OF HIGH
Treasury and Finance Minister Nureddin Nebati’s statement on April 3, which provoked reactions, read: “Lamb is cheap but not preferred because of its smell. It is necessary to change this too”, a surprise came from TÜİK after the statement.
According to TUIK, the champion of the price rise in April was lamb, whose price increased an average of 21.47 percent compared to the previous month.
With an average monthly price increase of 13.34 percent, beef ranked second on the list of bullish champions in April.