Alcoholic beverages see fifth price hike this year in Turkey
Alcoholic beverages have seen a price hike for the fifth time this year in Turkey, as an inflationary spiral runs out of control.
Duvar English
The prices of drinks with high alcohol content were increased by on average 15-20 percent on July 18, making it the fifth price hike this year, announced Özgür Aybaş, the head of Turkey's Liquor Stores Platform.
The price rise concerns import wine, vodka, whisky and liquor products, according to reporting by daily Sözcü.
After the price hikes implemented in January and March, some rakı, whisky, vodka and wine products had seen another price rise amounting to between 12-23 percent. And at the beginning of this month, the prices of some wine and cocktail products were further increased.
Aybaş said that they were also expecting an overall rise in beer prices, but that it has not been yet announced. “We cannot catch up with the pace of price rises,” he said.
Turkey is facing one of the worst economic crises in its history. The inflation shot to a 24-year high 78.62 percent in June, mainly due to a currency crisis at the end of last year and the lira's continued decline. Amid melting wages, Turks are struggling to make the ends meet.