Food prices rose 92.2 percent in one year

United Kamu-Is has published a research note on rising food prices.

Consequently, food prices rose 12.8 percent in July after the depreciation of TL and the increase in tax rates after the election.

Despite the fact that it was summer, the high rises in the prices of seasonal fruit and vegetables drew special attention.

He specified that the price increase in the first 7 months of the year exceeded 50 percent.

The annual rate of increase in food prices, which was 80.5 percent in June, reached 92.2 percent again in July.

PRICES HAVE BEEN CONTINUOUSLY RISING FOR 38 MONTHS

Statistics on consumption spending recently announced by TÜİK assign 16.6 percent of the consumption of the richest 20 percent to food, while the rate allocated to food in the poorest 20 percent rises to 35.8 percent.

Those in the second 20 percent group allocate 29.8 percent of their spending to food and 25.6 percent to housing and rent. Therefore, the uninterrupted increase in food prices in Turkey for the last 38 months negatively affects the poorest segment of society.

INCREASES THE RISK OF HUNGER

The research emphasized that rising food prices caused by misguided economic policies increased the risk of hunger and poverty in the country, and included the following statements:

“Since September 2021, when Turkey plunged into the current inflationary spiral that will last for years, food prices have increased by 402 percent.

In other words, for a food basket that was bought for 100 lira in September 2021, it was necessary to pay 502 lira in July of this year.”