Despite the Central Bank's estimation that "inflation will decrease", the increase in citizen's inflation has accelerated in recent months, especially "fire in the kitchen" cannot be prevented. While food prices increased by 13.7 percent in the first 5 months of 2021, the annual increase doubled the 16 percent inflation of TURKSTAT with 32.5 percent.
13.7 PERCENT INCREASE IN 5 MONTHS
The May results of the "People's Inflation" survey conducted by the R&D unit of the United Public Employees' Unions (Birleşik Kamu-İş) Confederation were shared with the public. According to the research, food prices, for which the poorest segment of Turkey had to allocate at least two-thirds of the family budget, increased by 1.8 percent in May compared to the previous month and by 13.7 percent in the first 5 months of 2021.
The May results of the "People's Inflation" survey conducted by the R&D unit of the United Public Employees' Unions (Birleşik Kamu-İş) Confederation were shared with the public. According to the research, the money spent on the basket with the most used 76 food items has increased by 32.5 percent in the last year, compared to May 2020. According to the research, food prices, for which the poorest segment of Turkey had to allocate at least two-thirds of the family budget, rose by 1.8 percent compared to last month.
KITCHEN COSTS INCREASED 1.8 PERCENT IN MAY
According to the research, while the increase in food prices such as meat-fish, oil and fruit was determinant in the 1.8 percent increase in May, there was an increase of 0.1 percent in the prices of bread, flour and bulgur in May compared to the previous month. Meat and fish prices did not change by 5 percent, milk, dairy products and egg prices. In May, the rapid increase in oil prices in the last months of last year continued with the increase in margarine prices and increased by 7.6 percent. In May, when fruit prices increased by 27.8 percent, vegetable prices decreased by 16.6 percent compared to the previous month.
VEGETABLE PRICES INCREASED 63.4 PERCENT IN 1 YEAR
According to the research, which was recorded that kitchen expenses increased by 32.5 percent compared to May last year, bread, flour, bulgur, pasta prices were 16.2 percent, meat-fish prices 18.4 percent, milk, dairy products and egg prices 26.2 percent. there was an increase. Oil prices increased by 33.5 percent compared to a year ago. Fruit prices increased by 41.6 percent and vegetable prices increased by 63.4 percent. Pulses prices have increased by 25.2 percent in the last year.
OIL PRICES DO NOT STOP
While there was an increase of 13.7 percent in the first 5 months of 2021, in the first 5 months, the prices of bread, bulgur, flour and pasta were 6.1 percent, meat and fish prices by 19.8 percent, milk, dairy products and egg prices by 17.4 percent. While an increase was observed, oil prices, which rose rapidly in the last months of 2020, increased by 13.3 percent.
Food prices rose 32.5 percent compared to May 2020. Price increases were 16.2 percent in bread, flour, bulgur and pasta prices, 18.4 percent in meat-fish prices, 26.2 percent in milk, dairy products and egg prices. Last year's hike champion oil prices increased by 33.5 percent compared to a year ago, while fruit prices increased by 41.6 percent and vegetable prices increased by 63.4 percent. The prices of legumes, one of the fixtures of the kitchen, increased by 25.2 percent in a year.
VERY HIGH EVEN WITH OFFICIAL DATA!
Although there are predictions that the inflation target of 5 percent will be reached in 2023, the facts do not point to this. In the inflation report published at the end of April, the 2021 year-end inflation forecast was increased by approximately 3 points to 12.2 percent.
While the upward trend in inflation that started in November 2020 continued in April, it continued for the seventh month in a row, and consumer inflation peaked in the last 23 months. According to TURKSTAT's data, annual inflation, which was calculated as 14.97 percent in January 2021, rose to 15.61 percent in February, 16.19 percent in March and 17.14 percent in April. The increase in food prices was 2.48 percent in January, 2.57 percent in February, 1.13 percent in March and 2.13 percent in April, with official figures.