United Public-Business Scanning! Here is the inflation of the people.

KAMUAR, the R&D unit of the United Confederation of Public Companies, announced the results of the food price index for August 2023, based on a basket of 64 staple foods that are regularly collected by the public in the markets. of Ankara and that the public is the one that consumes the most. The investigation entitled “Popular inflation” includes the following information:

* Although Turkey entered a new process of high inflation after the elections, increases in food prices, which started at a very high rate of 12.8 percent in July, continued with 8.9 percent. in August, despite the summer.

* While the price increase in the first eight months of the year reached 63.3 percent, annual food inflation once again rose to triple digits and stood at 102.1 percent. Food inflation is expected to reach much higher rates in the fall and winter months.

“35.8 PERCENT OF THE SPENDING OF THE POOR ON FOOD”

*According to statistics on consumption expenditures announced by TURKSTAT, 16.6 percent of the consumption of the richest 20 percent is reserved for food, while the rate allocated to food in the poorest 20 percent amounts 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 rise in food prices in Turkey over the last 39 months affects the poorest segments of society with a fixed income the most.

*The aim of the research is to estimate the extent of real inflation experienced by those on low and fixed incomes, wage earners and the poor, who have to spend most of their income on food and have no inflation protection.

“WE HAVE TO PAY 547 TL FOR THE FOOD BASKET IN JULY THIS YEAR”

* The increase in food prices caused by wrong economic policies increases the risk of hunger and poverty in the country.

*Since September 2021, when Turkey was dragged into the current years-long inflationary spiral, food prices have risen 447 percent.

*That is, for a basket of food that was purchased for 100 lira in September 2021, it was necessary to pay 547 lira in July of this year.

“WE WERE FALLING WITH THE BASE EFFECT”

* The annual inflation of food prices, which rose to 179.3 percent in 2022, maintained a downward trend until June of this year due to the base effect, that is, the increase in food prices in the same month of the previous year was higher. than the increase for the same month this year.

*The drop in annual inflation compared to previous months and last year due to the base effect was not due to the decrease in prices, but rather to the decrease in the rate of increase. As the high rate of increase of the same month of the previous year was left out of last year’s account, the annual increase was decreasing.

*However, starting in July, monthly increases once again exceeded the rate of increase for the same month of the previous year and annual inflation began to rise again.

* After falling to 80.5 percent in June, annual inflation, which rose to 92.2 percent in July, rose again to more than 100 percent in August after a three-month pause.

“BREAD, RICE, FLOUR, BULGUR…”

*In August, prices across all spending groups increased significantly compared to the prior year. Despite the fact that it was summer, the high increase in fruit prices was particularly striking. The prices of bread, rice, flour and bulgur increased by an average of 13.2 percent in August compared to the previous month, while the prices of the meat and fish group increased by 2.5 percent.

* The increase in meat and fish prices since the beginning of the year has approached 89 percent. In August, compared with the previous month, the prices of milk and milk products and the egg group increased by 13 percent, while the increase in oil prices was 14.9 percent.

* In August, when fruit prices rose 12 percent, vegetable prices rose an average of 2 percent compared to the previous month.

“FOOD PRICES HAVE INCREASED AN OVERALL 22.8 PERCENT IN THE LAST TWO MONTHS”

*While pulse prices rose 5.6 percent in August, the upward trend in prices of other processed foods, such as tomato paste, olives, honey, tea, salt and food products the like continued with an acceleration of 11.7 percent.

*Thus, citizens had to pay 8.9 percent more money in August compared to the previous month to be able to purchase the food basket made up of 64 foods selected according to their current food consumption habits. Food prices increased by 22.8 percent in the last two months (July and August).

“RETIRES SHOULD BE CONSIDERED WITH AN INCREASE OF 25 PERCENT…”

*Food prices rose 63.3 percent in the first eight months of the year. Therefore, the salary increases made for the second half of the year in July this year, which were reflected in different rates at different salaries and salary levels due to the increase, could not keep pace with the increase in food prices in the first eight. months of the year for many employees.

* The collapse in purchasing power of retirees who had to settle for a 25 percent increase continued, accelerating.

“EGG PRICES INCREASED BY 55.8 PERCENT”

*In August this year, compared to the same month of the previous year, the prices of bread, flour, bulgur and pasta increased by 70.1 percent, the prices of meat and fish increased by 115, 8 percent and the prices of milk, milk products and eggs increased by 55.8 percent.

* Compared to a year ago, oil prices rose 59.3 percent. Fruit prices rose 132.3 percent, while vegetable prices rose 239.6 percent. Pulses prices increased 37.2 percent in the past year, while other food prices increased 71.3 percent.

* Increases in producer prices for agricultural products indicate that the annual increase in food prices will continue to climb towards triple-digit rates in the coming months.

“IT INCREASED BY 115.4 PERCENT”

*Average food prices in the last period of a year, which covers the months of September 2022-August 2023, increased 115.4 percent compared to average prices for the period September 2021-August 2022. ( PHOENIX)