TÜİK didn't even fill its inflation basket at Tarım Kredi: Here are the 'real' prices item by item

Burak DEMİRBAŞ-12punto.com.tr

In recent years, high food inflation in Turkey has burdened citizens.

TÜİK, which last disclosed its inflation basket in April 2022, has shared its June 2024 inflation basket with the public.

However, the prices included in the basket were met with backlash from citizens. While many citizens demanded that TÜİK share the markets where it conducts its price research following the announcement of these prices, it was observed that the prices remained very cheap even when compared to the Turkish Agricultural Credit Cooperative Markets.

12punto compared 49 food items in the inflation basket with prices from Agricultural Credit markets and price comparison websites of major retail chains.

EGGS ARE 75 PERCENT, GRANULATED SUGAR 170 PERCENT MORE EXPENSIVE

According to data from price comparison websites, the prices and price differences of 28 products included in TÜİK's inflation basket were listed.

It was observed that among the most debated products, eggs were 75 percent, olive oil 142 percent, dried beans 122 percent, and granulated sugar 170 percent more expensive at Agricultural Credit.

It was observed that the price difference rose up to 170 percent, with the lowest being 1 percent.

It was noted that the prices in TÜİK's basket were more affordable for 3 products.

Here is that list:

OTHER MARKETS ARE NO DIFFERENT

The situation did not change for products not found at Agricultural Credit or listed online.

It was observed that prices in many major retail chains were very different from TÜİK's basket.

It was seen that chicken meat was 87 percent, lamb 53 percent, cola 21 percent, and many fresh vegetables were more expensive than in the TÜİK basket.

The only product in TÜİK's basket that was more affordable than in chain markets was found to be bell peppers.

Here is that list:

ÇETİNKAYA HAD DEFENDED EGG PRICES

Turkish Statistical Institute (TÜİK) President Erhan Çetinkaya made statements yesterday regarding the Consumer Price Index (CPI) calculations that sparked controversy, saying, "When egg or doctor examination prices are mentioned, a consolidated price is being discussed. For example, in a news report reflected in the press today (yesterday), an egg price of 2.57 liras is stated. Free-range eggs are 5 liras. But the price per egg in a 30-pack is 2 liras. When looking at consumption weights, it is seen that citizens mostly consume 30-packs of eggs. When looking at average consolidated prices, 2.57 liras is a very reasonable price for an egg. After a while, the issue moves away from technical calculations and enters the realm of perception management."

However, it was observed that there is a price difference of over 75 percent, especially at Agricultural Credit.

Çetinkaya also added, "We calculate the CPI by compiling over 600 thousand prices monthly across Turkey. We are one of the countries in the world that announces these results the earliest. We share the CPI with the public on the 3rd business day of every month. Approximately 300 thousand of these prices consist of register prices taken from markets."

*Prices were compiled from Agricultural Credit Markets in Istanbul, major retail chains, and price comparison websites.