With the crisis experienced, the annual inflation rate announced by Turkish Statistical Institute (TURKSTAT) was 54,44 percent, while the inflation announced by Inflation Research Group (ENAG) was 123 percent. Expressing that the impact of internal and external developments on inflation will continue in the coming months, ENAG manager Veysel Ulusoy stated that inflation will continue to rise and said, "It is not difficult to say that the producer price indices of TURKSTAT will exceed 150 percent."
The economic crisis, which started with the pandemic and increased even more with Russia's attack on Ukraine, continues to bend the back of the citizens. Evaluating the economic data for our newspaper, ENAG manager Veysel Ulusoy reminded that Turkey is the country most affected by the crises and the breaks in the international supply chain, and underlined that inflation will continue to rise. Reminding the statements of the Treasury and Finance Minister Nureddin Nebati, "We will also conduct an operation for those who undergo an operation as if there is poverty in the country," Ulusoy said that the approach is incorrect. Emphasizing that they are not correct, he said, “Such approaches are not correct. On the other hand, in this period when the people are impoverished due to all policy implementations and economic crises, such approaches are met with surprise by all segments of the society. Ulusoy drew attention to the mismanagement in monetary policies, "The problems experienced in the commodity market and food sector will keep this inflation rate at high rates until the end of 2023. It is not difficult to say that TURKSTAT’s producer price indices will exceed 150 percent,” he added.
“FOOD CRISIS WILL CHANGE COUNTRIES' POLICIES”
With the effect of the war between Russia and Ukraine, Turkey's foreign dependence, especially in agriculture, was revealed, while the food field has faced many crises since the beginning of the pandemic, with the effect of production and transportation problems experienced with the effect of the pandemic period. Expressing that he understands the importance of the world's food industry, Ulusoy said, "In the long term, all countries are now aware of how essential the food industry is, so today, they are going to make important trade restrictions. With the reality of producer countries’ exportation restrictions, there will be pressures on the inflation of other countries.The problem will certainly spread over the long term and perhaps countries will change their entire economic policies and focus more on food.”