The increase in food prices in Türkiye left the world behind
In Türkiye, food inflation has surged dramatically, with prices rising over 68% annually, contrasting sharply with global trends reported by the UN Food and Agriculture Organization (FAO). Globally, food prices remained stable in June, with increases in vegetable oils, sugar, and dairy offset by a decline in grain prices. Factors driving Türkiye’s high food inflation include currency fluctuations affecting import costs, agricultural production challenges such as droughts and floods, and rising input costs like fertilizers and fuel. Moreover, imbalances in supply and demand for certain food items contribute to price hikes domestically. The FAO Food Price Index for June held steady at 120.6, slightly below last year’s levels by 2.5% and significantly lower by 24.8% from its peak in March 2022. Türkiye’s situation stands out due to significantly higher food inflation compared to the global average, posing substantial challenges for its population. These disparities reflect a complex interplay of Türkiye’s internal economic dynamics and external global factors impacting food prices.
(Details are available upon your request. Please e-mail yusuf.turk@
Kaynak : Invıst Strategic Bulletin
No comments:
Post a Comment