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Bread prices ring alarm bells in Turkey

For low-income households, bread and its price have become all the more important now that their purchasing power has melted amid the slump of the Turkish lira and surging inflation.

Mustafa Sonmez
Mustafa Sonmez
Dec 22, 2021
Women shop bread at a market in Ankara on Dec. 20, 2021.
Women shop for bread at a market in Ankara on Dec. 20, 2021, as Turkey's troubled lira nosedived today after the Turkish president cited Muslim teachings to justify not raising interest rates to stabilize the currency. Erdogan has pushed the central bank to sharply lower borrowing costs despite the annual rate of inflation soaring to more than 20%. Economists believe the policy could see consumer price increases reach 30% or higher in the coming months. — ADEM ALTAN/AFP via Getty Images

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