Turkey’s Ministry of Trade: Inspections intensified for unjustified price increases in markets

The Ministry of Trade in Turkey made a statement addressing the issue of excessive price hikes in markets, affirming that inspections are being rigorously conducted to prevent unfair pricing and hoarding. The Ministry emphasized that it was meticulously examining all price increases in essential consumer goods to maintain price stability in the market and protect consumers from being exploited.

The Ministry reported receiving numerous complaints regarding unjustified price increases in markets and announced that inspections had been intensified in response.

In a statement titled “No Room for Unjust Price Increases,” the Ministry said:

“As the Ministry of Trade, we are conducting maximum inspections in the essential goods and services sectors that provide for citizens’ basic needs, such as nutrition, healthy living, housing, and protection, to counter excessive price hikes and hoarding activities.

Daily routine inspections are carried out in all 81 provinces

Daily routine inspections are carried out in all 81 provinces as part of the fight against price hikes. Products found to have excessive price increases are thoroughly evaluated by the Unfair Price Evaluation Board, and administrative fines ranging from 100,000 TL to 1,000,000 TL are imposed based on various criteria.”

1.5 billion TL in administrative fines had been imposed in 2023

The Ministry noted that approximately 1.5 billion TL in administrative fines had been imposed in 2023. A total of 170,207 businesses were inspected, and 48,628 individuals and legal entities were fined. The Competition Authority also fined 166 companies a total of 2.7 billion TL after conducting investigations in 2023.

In the first nine months of 2024, 340,485 businesses were inspected, with 153,063 of them receiving fines totaling 1.331 billion TL. Similarly, the Competition Authority imposed 4.848 billion TL in fines on 147 companies in the same period.

The Ministry also highlighted that inspections had been intensified following complaints about price increases, particularly in markets. In response to findings of unfair price hikes, the Ministry is taking steps to prevent such practices by increasing its monitoring efforts.

It reiterated its commitment to ensuring both consumer protection and a fair and transparent trade environment while continuing to increase controls in markets, particularly focusing on essential goods.