Author Topic: Food Inflation to Rise Further?  (Read 1284 times)

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Offline Colwyn

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Food Inflation to Rise Further?
« on: August 07, 2014, 10:40:44 AM »
One of the reasons for food prices in Turkey, especially meat, being so high - food inflation was higher than 12.5% year-on-year in July - is the large amount of meat and other produce being exported from Turkey to Russia. This brings in much needed foreign currency, but also means there is less supply to the home market thus driving up prices. Now Putin has imposed a ban on meat and other foodstuffs imported from the EU and USA, Russia will be looking to other sources of supply. Turkey seems an obvious choice.

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