The problem of inflation which Turkey has been experiencing for a long time, is gradually entering the agenda of the world. Giant US companies whose products are also sold in Turkey explain that they will raise prices, citing sharp increases in raw material costs.
Recent sharp increases in raw material prices around the world have led to price increases in many consumer products.
A reputable media outlet has written that the cost of almost every product, from Coca-Cola to Diapers, has increased, and consumer prices have also begun to rise.
In the past year, futures prices the United States have increased by 96 percent in corn, 54 percent in cotton and 50 percent in wheat. Futures prices, which peaked on Monday, have risen 265 per cent in the past year.
GIANT COMPANIES ANNOUNCE RAISES
Kimberly-Clark, a manufacturer of hygienic products in the United States, P&G, A manufacturer of cleaning agents and personal care and hygiene products, and beverage and ice cream products. M. Smucker and food produce General Mills said they would go for price increases.
Coca-Cola chief executive had said earlier in the week that costs were rising due to increases in raw material prices. North American market is expected to see low-to high-single-digit growth by the end of June.
P&G, which sells many products in Turkey, announced yesterday that it planned to raise its baby care, women’s care and adult incontinence products in September.
