Calis Beach and Fethiye Turkey Discussion Forum
Information and Services in Turkey Section => Banks, Interest, Money Transfers, Insurance => Topic started by: JohnF on July 03, 2018, 11:09:26 AM
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Looks like now that the wee fella is the all powerful supreme leader, he's got a bit of a job on his hands.
Latest inflation figure released for June shows a big jump from May, from 12.15% to 15.39%, a fourteen and a half year high. Puts Turkey somewhere between Sierra Leone and Libya in the global inflation rate charts.
I do hope this doesn't signal a return to the crazy days of the mid nineties where 100% + was common.
JF
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Thats the highest its been since 2003.
http://www.hurriyetdailynews.com/turkish-inflation-rate-jumps-to-15-4-percent-in-june-134101
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The average rise hides some wild increases. In Istanbul from June 2017 to June 2018 prices of a kilo of onions rose from 1.3tl to 6.5tl and potatoes from 1.5tl to 6tl. Turkey is now importing potatoes from Syria. I guess things in Mugla are rather different as it is a strong agricultural province but for the 16m + who live in Istanbul it must really hurt.
http://www.hurriyetdailynews.com/turkey-starts-importing-potato-from-war-torn-syria-133882
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Overheard someone last week in Calis saying the price of potatoes has shot up in price recently, due to inflation.
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...any chance rice and salad might follow?
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:D 8) ;D
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The average rise hides some wild increases. In Istanbul from June 2017 to June 2018 prices of a kilo of onions rose from 1.3tl to 6.5tl and potatoes from 1.5tl to 6tl. Turkey is now importing potatoes from Syria. I guess things in Mugla are rather different as it is a strong agricultural province but for the 16m + who live in Istanbul it must really hurt.
http://www.hurriyetdailynews.com/turkey-starts-importing-potato-from-war-torn-syria-133882
Today's prices from Fethiye market: onions (barely bigger than a table tennis ball) 5tl & potatoes 5tl. These prices from the usual onion & spud merchants. Can't ever remember seeing these prices so high
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Unfortunately these figures have prompted a further fall in the lira, expect more prices.
Over the past twelve months the inflation rates rises and falls have pretty much followed the exchange rate. The worse off the lira is, the higher the inflation rate. Imports such as oil & gas, food stuffs and all the other goods that consumers in Turkey want get more expensive thus (in simple terms...) pushing the inflation rate up.
The worrying statistic is that the consumer prices of food rose by an average of 6% last month, with many items (as mentioned above) exceeding that by some distance.
(https://s15.postimg.cc/fl7e0n4xj/exch.jpg) (https://postimg.cc/image/fl7e0n4xj/)
(https://s15.postimg.cc/piietpryv/inf.jpg) (https://postimg.cc/image/piietpryv/)
JF
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Plus 15.5 % on some alcohols
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As a holiday maker coming our to Calis Beach at the end of this month what effect has the increase in inflation had on prices such as meals in restaurants, drinks and trips in real terms ?
Is inflation being passed on ? are restaurants reprinting their menu prices or standing the fluctuation ?
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You'll be getting around 6tl to the £ so the increases won't particularly affect you at all.
I doubt any business that actually wants to stay in business is "reprinting" it's menu prices.
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Plus 15.5 % on some alcohols
This is the Special Consumption Tax that gets increased every six months. Given the wee fellas intense hatred of cigarettes and alcohol, and now that he is the all powerful supreme leader, expect higher bumps for both every six months.
Yes, you're right Nichola but for the "man in the street", who doesn't have access to hard currencies, things are getting harder.
JF
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Just got back from Calis and I was astonished that prices in restaurants remain so cheap. A three course meal for two, with drinks at the Livadi Steak Housewas 158 lira. A lovely meal for three at Mosaik was 116 lira. Oh for infore Dalaman Airport. Lavazze Coffee on the first floor price everything in Turkish Lira. Cappuccino with free cake was 30 Lira and water is 5 lira. Very reasonable and great service.
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We know of one restaurant that reprinted its menu while we were there three weeks back, and fairly sure these would not have been the only ones.
,
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I'm not sure £5 for a coffee is such great value.....oops, forgot, it's with "free" cake ;D
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Yep, don't forget the free cake that you didn't really want anyway Bluwise! ;D
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We know of one restaurant that reprinted its menu while we were there three weeks back, and fairly sure these would not have been the only ones.
Name it? Or would you rather not do that (which I could understand)?
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thank you for understanding.
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The new kebab restaurant on Baris Manco has new price tickets on top of old. So obvious. Holiday prices?
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A lot of the prices are written in pencil or a wipe pen in the menus , so when they change the prices you won't even notice.
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Are we as tourists seriously expecting local people who, in all probability have more serious personal financial pressures than us, to absorb huge increases in basic costs just so that we can enjoy the cheap holiday we have become use to ?.
I don't.
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H, Do you really think the average tourist considers the economics that affect the local population during their holiday ?
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Well the local people voted this government in, I think they new ,what to expect,
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Well the local people voted this government in,
The local people here in Mugla didn't.
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Some body did.