All food prices are rising but especially baby formulas," said Huseyin Duran, 43, an Istanbul father of three and security guard receiving partial state pay for lost work. Rising oil and fertilizer prices and dry weather are part of the reason food inflation jumped more than 20% in a year. Turkish President Tayyip Erdogan has reluctantly accepted sharp interest rate hikes that will slow an economic rebound just as COVID-19 vaccines are rolling out. Inflation, led by food, jumped again in a 2018 currency crisis and has since remained mostly in double-digits. POLITICAL TESTA Metropoll survey last month showed 80% believe inflation is higher than the official tally.

Source: bd News24 January 15, 2021 05:15 UTC