Want to understand Turkey’s brutal inflation? Look at the price of plums
Source:CNBC.com Date:13Apr2022
- For Turks, the humble green plum (“erik” in Turkish) represents the start of spring. An intensely sour fruit, it’s available just once a year around April.
- But rising prices and falling value of the Turkish lira in recent years have made this “harbinger of spring” absent from Turkish tables.
- Turkey’s CPI data for food and non-alcoholic beverages showed a rise of 70.3% year over year for March.
Very novel angle