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Retail Sector Proposes Campaign to Curtail Inflation

TURKEY
  • Inflation is in focus across local press, with Ekonomi writing that the trade minister Bolat received retail sector representatives to the ministry, who pledged to combat inflation, with the representatives proposing a campaign to curtail expected price rises in the upcoming period.
  • Separately, drug prices have been further impacted by price rises, as the government Gazette confirms that the fixed EUR/TRY rate for medical products has increased by 30.5% in July, with the new rate applicable throughout the rest of 2023.
  • President Erdogan is set to chair a cabinet meeting later today. There are no major macro releases due until Friday’s June trade balance.

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