Turkish authorities launch investigation into 23 supermarkets over soaring prices

Turkish Competition Authority began the investigation to determine whether the grocery stores are complying with competition law, it said.

Turkey’s food prices jumped more than 30 percent annually in January, helping to push overall inflation up to 20.4 percent. The government has responded to soaring food prices by intensify a crackdown on stores, which it says are increasing prices unfairly.

The supermarkets under investigation include Yeni Mağazacılık, BİM, Şok, Migros, Hakmar and UCZ and Çağrı, among others, Diken said.

Turkish Finance and Treasury Minister Berat Albayrak has likened the price increases in supermarkets to “food terrorism” and the government started a programme for municipalities across the country to sell food at discount prices as the country counts down to the local elections set to take place on March 31.

Source: zamanaustralia