“We live with inflation in Turkey. The biggest components of what we spend money on are food, rent, and transportation, and these are the kind of prices the average consumer faces on a daily or monthly basis. So if you are lying to them, it's very obvious. It undermines trust in Erdogan and the AKP. Turkish public's perceptions of inflation can also drive prices higher. If people think inflation is close to 100 percent, anyone who has any bargaining ability, say in paying salaries or wages, or the prices they charge, pretends inflation is 100 percent. So going forward, that is a disastrous situation.”
07 Jan 2022
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