Expats beware: Türkiye launches ‘Market Price’ platform against persistent food inflation
File photo shows a shopper in a supermarket checking their smartphone while pushing a cart. (Adobe Stock Photo)
Türkiye’s Minister of Industry and Technology, Mehmet Fatih Kacir, announced the launch of “Market Price,” a website that allows consumers to compare the prices of nearly 50,000 products in major supermarket chains, aiming to track price changes and prevent exorbitant hikes.
The platform enables users to track real-time prices of essential goods, including fruits, vegetables, meat, poultry, fish, beverages, personal care items, and household cleaning products.
‘Market Price’ includes 7 major supermarket chains
Developed in collaboration with the Central Bank of Türkiye, the project integrates pricing data from seven major supermarket chains: A101, Bim, CarrefourSA, Hakmar, Migros, the Agricultural Credit Cooperatives of Türkiye, and Sok.
In a statement, the Ministry of Industry and Technology emphasized that the initiative aims to help consumers shop more cost-effectively.
In addition to the website, a mobile application will be launched soon, according to officials.
The “Market Price” platform is accessible at http://marketfiyati.org.tr.
Informed consumption against food inflation
To combat rising food prices and promote informed consumption, the Turkish government has intensified its efforts to empower consumers.
The launch of the “Market Price” platform is a significant step in strengthening these measures against food inflation, which remains one of the key factors driving consumer prices higher.
The launch of the platform aimed to enable consumers to make cost-effective purchasing decisions, helping them avoid overpaying for essential goods. The ability to compare prices instantly fosters competition among retailers, potentially discouraging unjustified price hikes and encouraging fair pricing practices in the market.
Food inflation remains one of the key factors driving consumer prices higher in Türkiye, persisting despite a strict disinflation program that has brought annual inflation down from 75% in June to 42% in January.
On Jan. 6, President Recep Tayyip Erdogan urged citizens to boycott overpriced food, emphasizing that despite declining inflation, consumers can resist price gouging by making informed purchasing decisions.
According to the Turkish Statistical Institute (TurkStat), food prices rose by over 41% annually in January, with a 3% increase in just one month.
Recognizing food inflation as a persistent challenge, the Central Bank of the Republic of Türkiye (CBRT) addressed the issue in a Feb. 7 open letter to the government, stressing that even a tight monetary stance has been ineffective in controlling price surges.
