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Hazelnuts: slippery grounds

July 7, 2022 12:06 PM, Der AUDITOR
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ORDU. Turkey’s official inflation rate soared to a 24-year high of nearly 80% in June. Faith in such official figures is, however, dwindling as real inflation ranges twice as high. These shocking figures not only spell political and economic disaster but also show how slippery the grounds are for Turkey’s hazelnut suppliers.

Low confidence

Annual inflation rose from 73.5% in May to 78.6% in June according to official figures. Although the government is keen to blame soaring oil and gas prices for this dilemma, confidence in president Recep Tayyip Erdoğan’s unorthodox policies is dwindling fast. A recent survey conducted by the Metropol polling agency highlighted that only 24% of respondents believe the official government figures. A stunning 69% have more faith in the unofficial figure issued by Turkey’s ENAG group of independent economists, which states that consumer price

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