Prof. Dr. Serap Durusoy highlights food inflation: 'It is worrying that while it is declining globally, it is near 70 percent here'

According to data released by TUIK, inflation in April was 3.18 percent on a monthly basis and 69.80 percent on an annual basis. Prof. Dr. Serap Durusoy evaluated the data for 12punto.

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Prof. Dr. Serap Durusoy highlights food inflation: 'It is worrying that while it is declining globally, it is near 70 percent here'

Şenol ÇARIK / 12punto.com.tr

According to data released by TUIK, inflation in April was 3.18 percent on a monthly basis and 69.80 percent on an annual basis. Evaluating the figures for 12punto, economist Prof. Dr. Serap Durusoy said, "While there is a trend toward 7 percent in global food and agricultural prices, meaning a decline, it is worrying that we are still seeing a figure near 70 percent here."

Stating that "the fact that it came in line with expectations unfortunately does not make inflation innocent," Prof. Durusoy added, "The core inflation here is particularly worrying. The most important point, as always, is that it has diverged from the data of ENAG (Inflation Research Group) and the ITO (Istanbul Chamber of Commerce)."

"WHAT MATTERS IS THE INFLATION FELT BY HOUSEHOLDS"

Serap Durusoy continued as follows:

"Yes, the figures are being announced, but what is more important here is the inflation felt by households. When we look at the share within expenditure items, the increase in goods groups that constitute a very large share of household expenditures on a monthly and annual basis is worrying.

The food inflation side constitutes a point that needs to be taken much more into consideration. While there is a trend toward 7 percent in global food and agricultural prices, meaning a decline, it is worrying that we are still seeing a figure near 70 percent here."

'PUBLIC SAVINGS MUST BE STRENGTHENED'

"We cannot ignore this reality, of course. Unfortunately, monetary policy is not very effective on food inflation. But it can be said that we are now faced with the reality that the fiscal policy side and the public savings side, which have been voiced especially over the last week, need to be strengthened much more in the coming period."

Prof.Dr. Serap Durusoy TÜİK'in açıkladığı enflasyon verilerini 12Punto'ya değerlendirdi.

??Gıda fiyatları dünyada yüzde 7’lere gerilerken bizde yüzde 70’lere yakın olması endişe verici.
??Önemli olan hanehalkının hissettiği enflasyon.@serapdurusoy @senolcarik #enflasyon #tuik pic.twitter.com/59EgRjTfmX
— 12punto (@12puntocomtr) May 3, 2024