STORY: Türkiye's annual inflation nears 65 pct in December
SHOOTING TIME: Jan. 10, 2024
DATELINE: Jan. 11, 2024
LENGTH: 0:03:08
LOCATION: Ankara
CATEGORY: ECONOMY

SHOTLIST:

1. various of people on the streets, cash points and shopping in Ankara, Türkiye
2. various of people buying cheaper breads in Mugla, Türkiye (courtesy of ihlas news agency)
3. various of people shopping in a fresh vegetable bazaar in Aydin, Türkiye (courtesy of ihlas news agency)
4. SOUNDBITE 1 (Turkish): FIKRET OZLEK, Former restaurant manager
5. SOUNDBITE 2 (Turkish): NUR KILER, Retired teacher

STORYLINE:

Türkiye's annual inflation for 2023 came at about 64.8 percent in December, an increase from 62 percent a month ago on the back of higher food and energy prices, putting further pressure on households.

In December, the Turkish Central Bank increased its policy rate by 250 basis points to 42.5 percent to curb the lira's devaluation and tame the persistently high inflation.

In general, the figures are showing signs of leveling off following a series of sharp interest rate hikes by the new economic team since June 2023.

To alleviate the burden of the rising cost of living, the government raised the minimum wage by 49 percent to 17,002 liras, starting the first day of 2024.

Economists have warned that this could potentially fuel another hike in inflation hike, whilst many households are already struggling to pay for rent and necessities.

SOUNDBITE 1 (Turkish): FIKRET OZLEK, Former restaurant manager
"In my whole life, I never witnessed such a high cost of living. I'm 62 years old, and I never saw such high prices. Since I don't pay rent I can get by. But I feel sad for the younger generations. They can't get married or buy their own house. I never saw such drastic times in my entire life. There is an income inequality in Türkiye." 

SOUNDBITE 2 (Turkish): NUR KILER, Retired teacher
"Pensioners have been ostracised. We cannot make ends meet. We can only buy the bare minimum of food to survive. Other than that we cannot afford anything such as socialising. Thus far, 2024 has made a bad start. Price tags are changing daily in shops, therefore I am pessimistic. In the past, I never saw such high prices. Inflation is continuing unabated and wages are nearly stagnating against high inflation. It is impossible to make ends meet in these circumstances." 

Xinhua News Agency correspondents reporting from Ankara.
(XHTV)