It's not just New Year's, even an empty basket is unaffordable

As the debts of citizens crushed by rising inflation continue to grow, the prices of products are also skyrocketing.

With about a month left until the new year, New Year's gift baskets have begun to take their place in chain supermarkets. Although the Turkish Statistical Institute (TÜİK) states that annual inflation is 61 percent, the annual price increase for these baskets, which vary in size and content, has reached 83 percent. Consumer associations stated, "New Year's is no longer something fun."

According to the report by Ali Can Polat from Cumhuriyet, the "Classic box," which was sold for 215 TL last year, has hit the shelves this year at 395 TL, marking an 83 percent increase. Similarly, the "Boutique box," which was sold for 325 TL last year, has risen to 595 TL with the same rate of increase. Despite this price hike, the number of products in the classic box has decreased by 4, and two products have been replaced with cheaper brands.

Evaluating the price changes in the baskets, Consumer Union Federation President Mehmet Bülent Deniz said the following:

"You don't need TÜİK to understand how expensive life is. Consumers see the real inflation at the market right next door. No one has the money or the morale left to do New Year's shopping. The November discounts didn't generate the expected demand either. Because credit card alarms are ringing, product grammages are shrinking, and people are being pushed into depression."

ENAG founder Prof. Dr. Veysel Ulusoy also shared a post on social media to draw attention to the price changes in New Year's baskets.

Ulusoy shared an image illustrating the price hikes on New Year's baskets over the years under the heading "What is inflation?":

What is inflation?

Photo source: @AybasOzgur pic.twitter.com/oGDxuCMtyu

— Prof. Veysel Ulusoy (@ekonomikanaliz) December 3, 2023

News Source: 12punto