Expert says government’s efforts to reduce prices in the market are futile

Erdal SAGLAM, a journalist writing for Cumhuriyet, has expressed that after the fall in the exchange rate, the government is putting pressure on the market to reduce prices. SAGLAM says “It is very difficult for the government to get results from this futile effort.”

Saglam expressed in his article that the government had (supposedly) written a ‘heroic story’ after reducing the dollar rate to 11 TL by entering into foreign exchange sales with state-owned banks but had not found what they had hoped for.

Saying that the next test of the government will be the inflation of December, which TUIK will announce, the journalist said: “After lowering the exchange rates, it is very difficult for the government, which puts pressure on all sectors to reduce prices in the market, to get results from this futile effort. Although there were some who advertised saying ”We have reduced our prices” and sent messages to the President, it has not been possible to turn this into a general practice (on the market). “

“That’s why we say futile effort, because in order for consumer prices to decline, retailers need to sell below their costs.”