Türkiye + 1 more

Turkey Market Bulletin: Issue No. 21, Quarter 1 2022 (January - March)

Attachments

HIGHLIGHTS

  • The Minimum Expenditure Basket (MEB)1 costs TRY 878 per person per month as of March 2022, an increase of 52 percent from 576 TRY last year, March 2021.

  • The inflation rate reached 61.1 percent. The food inflation rate increased to 70.3 percent.

  • The Turkish lira continued to depreciate. In March 2022, the average exchange rate is 14.6 TRY/USD.

  • The Ukrainian war increased energy costs globally. The impact on Turkish economy is remarkable as Türkiye relies on energy imported from Russia. The war also raises concerns over global food supplies.