Inflation is 58 percent but... The 1-year story of coffee: Turkey has overtaken Europe in coffee prices!
The best example of inflation in our country has been seen in coffee. The price of a latte in Turkey, which was 1.3 dollars at the beginning of 2023, has increased exorbitantly in 2024. Here are the details...
12punto
As the cost of living in Turkey makes itself felt more and more, coffee has become one of the items that has seen a price increase.
Price changes at the world-famous coffee chain Starbucks, in particular, have drawn attention.
According to economist and academic Hakan Kara, a cup of milk coffee (café latte) sold for 1.3 dollars in Turkey at the beginning of the year was well below the 3.6 dollar price in Portugal.
However, the rising inflation and the depreciation of the Turkish Lira throughout the year caused coffee prices to skyrocket.
While the price of the same coffee in Portugal remained unchanged, the price in Turkey reached 4.1 dollars with a 215 percent increase.
This change caused Turkey to surpass the coffee prices of European countries like Portugal.
The reason for the exorbitant price hike in coffee in Turkey is a matter of curiosity.
TURKSTAT SAID 58 PERCENT
TURKSTAT announced the inflation data for December.
According to TURKSTAT, inflation in December was 1.03 percent, and the annual rate was 44.38 percent.
CIVIL SERVANT AND PENSIONER RAISE ANNOUNCED
Accordingly, the 6-month inflation difference has also been determined. Civil servants and pensioners will receive an 11.55 percent raise in the first 6 months of 2025. A 15.75 percent raise will be applied to worker retirees.
According to the statement made by the Turkish Statistical Institute (TURKSTAT), the change in the CPI (2003=100) in December 2024 was 1.03 percent compared to the previous month, 44.38 percent compared to December of the previous year, 44.38 percent compared to the same month of the previous year, and 58.51 percent based on twelve-month averages.
The 58 percent 12-month inflation announced by TURKSTAT and the 215 percent hike in coffee prices in one year have once again raised questions about the reliability of TURKSTAT data.