Poverty deepens in Turkiye as inflation soars

ANKARA — Drinking tea with a simit, a sesame-coated ring-shaped bread, is a tradition in Turkish culture. However, the price of the bread, which is also called a bagel, has more than doubled over the past year due to inflation.

"The price of everything has skyrocketed: One cup of tea now costs 10 liras ($0.35), and one simit is also 10 liras," Huseyin Pence, an 84-year-old pensioner from the low-income district of Dikmen in the capital city of Ankara, told Xinhua News Agency. "Everyone is complaining about this situation."

The central bank on Thursday pegged the inflation for this year and next year to 65 and 36 percent, respectively, up from 58 and 33 percent.

Turkiye's food prices increased by 14 percent in real terms, and 76 percent nominally over the course of a year, ranking fourth on the World Bank's Food Security Update. Official forecasts predict consumer prices would peak next year.

Irem Eroglu, a 21-year-old computer programming student, said she cannot make ends meet with the modest allowance she receives from her parents.

"I was receiving 100 liras ($3.5) a week, but now the same amount doesn't cover my expenses," she said.

She said she had to photocopy books as she could not afford to purchase them.

Last month, the poverty threshold for a family of four rose to $1,570, according to a recent report by TURK-IS, a leading workers' union.

Nearly 60 percent of Turkiye's workforce earns a monthly minimum wage of $400, which is largely below the poverty line, Istanbul-based economist Iris Cibre said on X, formerly Twitter.

"Many household incomes are insufficient in the face of staggering inflation, and impoverishment has become a major issue in Turkiye," she wrote.

To address the problem, the Turkish government has increased pensions and the minimum wage several times in the past few months. The pension and wages are set to increase again in the coming months.

Xinhua