Bread prices to increase in Turkey

Turkish Flour Industrialists’ Federation has announced on July 3 that bread prices will be increased
Wednesday, 04 July 2018 00:08

Turkish Flour Industrialists’ Federation (TUSAF) will raise the bread prices. Saying that the purchase price of wheat has been determined as 1,050 Turkish lira [$225] by the governmental grain board, Eren Günhan Ulusoy, the chairman of TÜSAF stated.

Ulusoy said, "TMO also fixed the sale price of bread at 1,120 [$239,6] Turkish lira, which is equivalent to a 7per cent increase. 1,050 Turkish lira means a 12 percent increase compared to the previous year."

"Flour prices will probably increase by 10-15 per cent considering the loss of quality in wheat. It is already at the same level with the inflation rate now. It is not an exception. Bread prices will likely to increase by 15 kuruş [$0,03]," Ulusoy concluded.  

In June, Turkey has suffered from dramatic inflation in onion and potato prices. The cost of a kilogram of onion had increased to 6.5 Turkish liras [$1,4] with 212 per cent monthly increase, while potato prices rose to 6 Turkish liras [$1,3] with 94 per cent monthly increase.

The consumer price index climbed 15.4 per cent in June from the same month in 2017 on an annual basis, up from 12.2 per cent in May. Among the chief drivers of the rise were sharp hikes in the prices of basic foodstuffs like onions, potatoes and carrots.