an increase in prices out of control

At the wheel of his taxi, a driver saw Istanbul (Türkiye) become so expensive that no one can offer it. “”Now people no longer eat in the restaurant. Everyone is stressed, worried. I lost 50% of my customers (…) and everyone saw their purchasing power divided by ten“He says.

A 66 -year -old man goes to the bank every month, recover his only income. “”I can’t not cry. I was paid my retirement pension, the equivalent of 400 euros for the month. But in ten days I would have nothing. How am I going to do? “, He worries. Three years ago, with the same pension, he could go on vacation. Inflation was formidable: 44% in 2024, and worse on certain products.

The former cosmetics official has his sister and his charge. He lives on credit, and only buys the strict necessary. “”Even a coffee I can’t anymore. It’s for everyone the same “he deplores, without directly accusing government policy.

However, the Turkish economy is in crisis, after flourishing years. After the pandemic, Erdogan has dropped interest rates to promote growth, resulting in prices in all sectors, with cascade consequences. The spiral of inflation is maintained by the depreciation of money, a vicious circle that nothing seems to be able to break.

Find the entire report in the video above