STORY: Turkish inflation keeps rising, adding burden to ordinary Turks
DATELINE: Oct. 4, 2023
LENGTH: 00:02:12
LOCATION: Ankara
CATEGORY: ECONOMY

SHOTLIST:
1. various of people on the streets
2. SOUNDBITE 1 (Turkish): HASAN DENIZ ARPACI, Unemployed mechanical engineer
3. SOUNDBITE 2 (Turkish): OZAN SENOL, Student

STORYLINE:

According to the Turkish Statistical Institute, Türkiye's annual inflation rate rose to 61.53 percent in Sept., climbing for a third straight month since it started to slide from Oct. last year.

Due to runaway inflation, Turks are often on a bargain hunt for deals.

SOUNDBITE 1 (Turkish): HASAN DENIZ ARPACI, Unemployed mechanical engineer
"We have to juggle between several stores to find cheaper goods but then risk spending more transport fares. I don't see a bright future ahead of us. This high inflation will create high unemployment, impact further the economy in a negative way, and create social problems. Inflation has impacted everyone."

SOUNDBITE 2 (Turkish): OZAN SENOL, Student
"(Regarding the cost-of-living crisis,) I can feel it by the scholarships that have been granted to me for my studies. At the beginning of the term, I can make a living for a couple of months but afterward, because of inflation, I can see my purchasing power decline. Because of high prices, I can not afford to socialize with friends."

The central bank aggressively raised interest rates from 8.5 percent to 30 percent during the June-September period. However, despite these efforts, prices continued their ascent, defying public expectations.

The re-accelerating inflation is driven by the government's tax increase to address its budget deficit, hefty wage hikes, and rising exchange rates, among other factors.

Xinhua News Agency correspondents reporting from Ankara.
(XHTV)