Part 3/8:

In addition to the recession, Turkey is grappling with significant inflation. Despite recent drops in the inflation rate from a peak of 75% in May 2024 down to 47% in November, the year-on-year price increase of 47% remains staggering. Notably, Turkey has the second-highest inflation rate among G20 countries, surpassed only by Argentina’s extreme inflation of 166%. The situation is concerning as it directly affects the purchasing power of citizens, straining household budgets across the country.

Food prices, a critical indicator of economic health, have surged over 48%, making it increasingly difficult for lower-income families to manage expenses. Given that food constitutes a larger percentage of poor households' expenditure, this inflation spike poses serious hardships.