IPA President Buğra Gökçe: Explained the marginal divergence in food prices in Turkey with data

IPA President Buğra Gökçe stated that Turkey has the highest food inflation among the 57 member countries of the Organization of Islamic Cooperation (OIC). Gökçe's post on his social media account is as follows:

"Turkey is the country with the highest food inflation among the 57 member countries of the Organization of Islamic Cooperation (OIC). While current food inflation data could not be found for 8 of the 57 OIC member countries due to conflict conditions or local issues, the average food inflation in the remaining 49 countries is 6.7. Excluding Turkey, the average food inflation is only 6...

According to official figures, food inflation in Turkey was 41.7 percent. A large segment of our public is exposed to figures much higher than this inflation. Despite this, Turkey is followed by Iran with 27.3 percent, Nigeria with 26 percent, Palestine with 21.8 percent, and Lebanon with 20.8 percent.

"MARGINALLY DIVERGED"

While food inflation in Bangladesh was 10.7 percent, it was 9.1 percent in Togo, 7.3 percent in Cameroon, and 8.9 percent in Burkina Faso.

Annual food inflation in Uganda is 0.6 percent. In Afghanistan, food prices have become cheaper by -3 percent, and in Pakistan by -3.1 percent compared to the previous year.

Food prices are also on a downward trend worldwide. The FAO Food Price Index fell by 2.1 points compared to December, dropping to 124.9. This level is approximately the same as the price level in August 2008.

Food prices in Turkey have marginally diverged from both the global trend and the OIC member countries. The main reason for this is the loss of value of the Turkish lira due to the implemented economic policy, general impoverishment, and high inflation. Unfortunately, due to high food inflation during the month of Ramadan, our citizens can neither comfortably wake up for suhoor nor have their iftar. Poor economic management is severely hitting the citizens' tables."

News Source: 12punto