Bread price increases by 31 percent in Istanbul

With a new Istanbul Chamber of Commerce decision, the maximum price of 200 grams of bread was increased by 31.25 percent to 10 liras in the megacity.

Duvar English

The maximum price of 200 grams of bread was increased by 31.25 percent to 10 liras in Istanbul, the online news outlet Ekonomim reported on May 9.

In its council meeting, the Istanbul Chamber of Commerce (İTO) decided on the 31.25 percent increase of 200 grams of bread, which is seen as an indicator of inflation in the country as it is consumed by the masses.

The chamber cited “the increases in raw materials such as flour and yeast as well as labor and energy costs” as the reasons for the hike, and it argued “the enterprises are experiencing serious difficulties in the face of increasing costs.”

The latest arrangement on bread prices was made in December by the İTO as the maximum price for 210 grams of bread was set at 8 liras in the megacity.

According to official figures from the TÜİK, inflation in April rose by 3.18 percent in Turkey, while annual inflation climbed to 69.8 percent. However, data from the independent inflation research group ENAG showed that monthly inflation was higher at 5.02 percent, with the annual increase reaching 124.35 percent. 

Millions of Turks cannot make ends meet due to soaring cost of living.

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Topics Istanbul Chamber of Commerce bread Turkish economy inflation Istanbul