State-run TurkStat announces inflation at 19.89 percent when actual inflation is round 49.87 percent

According to the official state institution of the Statistical Institute (TurkStat), annual inflation is 19.89 percent when according to ENAG Research (a private research group), it is 49.87 percent.

The rising inflation coupled with the decline of the value of the Turkish lira against the dollar substantially limits the possibility of low-income group to access basic needs such as food and alike.

In the meantime, state-run agency TurkStat (TUIK) keeps doing its best to show inflation low, by the way, citizens who go to the bazaar and markets, consume natural gas at home, or use electricity understand very well that this is not true and to the contrary actual inflation is far above this figure..

Despite the government’s efforts to give the message “we are not managing the economy unsuccessfully”, some private establishments calculate inflation as well and clearly show that the figures found do not match the Turkstat figures at all.

ENAG (Inflation Research Group) which is one of such private organizations, has found the annual inflation figure of 49.87 percent ad thus shown the figures shared by th state-run organization may not be reflecting actual figures in the market. Certainly, it would not be possible to prevent the depreciation of the Turkish lira and reduce inflation to single digits without taking necessary (appropriate) measures to suit the real picture in economy.