KEY Findings
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Currency depreciation - The TRY-USD exchange rate decreased for the first time this year (-1%). This likely resulted in price changes of many SMEB items, including price declines. Particularly imported goods experienced price declines, including sugar and bulgur.
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Price inflation – a smaller proportion of surveyed vendors reported that price inflation was a challenge in September 2023 (55%) compared to August (63%). This reflected the decline in the TRY-USD exchange rate.
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SMEB total in TRY – The cost of the SMEB total in TRY increased by 4%, mostly driven by price increases in the vegetable SMEB component related to the end of the harvest season.
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SMEB Total in USD – The cost of the SMEB total in USD increased by 2%, related to the reduction in the TRY-USD-exchange rate.
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SMEB Water - The price of trucked water increased by 2% in September compared to 16% in July and 14% in August.