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Monday, December 03, 2018

Turkish Onion Prices Surge 51%, Defying Crackdown on Inflation - Bloomberg

Turkish Onion Prices Surge by an Eye-Watering 51%
By Cagan Koc
December 3, 2018, 5:24 AM EST

Onion prices have surged in Turkey, defying a government crackdown on inflation.

Prices surged 51 percent in November, the most of any component in a basket of prices whose gains decelerated in November to 21.2 percent from a 15-year high the month before. The government has been raiding storehouses where producers and dealers store onions, accusing them of hoarding crops to hike up prices.

More:Turkish Onion Prices Surge 51%, Defying Crackdown on Inflation - Bloomberg