Turkish professor says 3-digit inflation in Turkey is not far off

Recalling that triple-digit inflation has not been seen in Turkey for more than 20 years, Prof. AZIZ CELIK has said, “When we look at the indicators, we’ll see the end of the year with this scenario.” According to official data, annual inflation was announced as 69.97 percent in April. However, according to independent social scientists, the rate is much higher.

Speaking to the media, Prof. Çelik noted that triple-digit inflation is a psychological limit and predicted that this scenario would occur by the end of the year.

The professor noted: “We can also say that the difference in PPI and CPI will gradually close, and CPI will rise towards PPI. At a point when the PPI was running so high, the CPI could not be expected to count in place. When we look at PPI, we see that it has already increased to three digits. Therefore, the destination of inflation is also obvious from today. There are already groups of goods and services that have already crossed three digits. Food is in the 90s, while transport inflation is 105 percent.”

BREAD OF PEOPLE IS STOLEN

The Professor said, “One of the most important issues is the correct measurement of inflation. Incomplete inflation measurement means that the people’s bread is stolen.”