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  • 25-11-21

    Turkish president notes increasing international goods prices

    (MENAFN) On Wednesday, the Turkish president announced that the world is going through a phase of inflation prompted by unusual increases in international product costs.

    Recep Tayyip Erdogan stated during a video call to the 37th Ministerial Session of the Standing Committee for Economic and Commercial Cooperation (COMCEC) of the Organization of Islamic Cooperation (OIC), "as humanity, we've felt the effects of the coronavirus pandemic very deeply in every area of our lives."

    Erdogan expressed during the conference being held in Istanbul that differences between demand and supply on an international level led to the increasing goods costs, Turkey, stating that the UN Food and Agriculture Organization's Food Prices Index witnessed the 10-year-high surging by 31.5 percent last month.

    He also mentioned, the IMF's All Commodity Price Index jumped by 74 percent the previous month, whereas energy costs increased by 175 percent and non-energy product costs by 20.5 percent.

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