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Turkey to clamp down harder on shops charging excessive prices, Erdogan says

Tuesday, November 22, 2022
Turkey to clamp down harder on shops charging excessive prices, Erdogan says © Reuters. FILE PHOTO: Turkish President Tayyip Erdogan talks to the media after attending Friday prayers at Hagia Sophia Grand Mosque in Istanbul, Turkey August 7, 2020. REUTERS/Murad Sezer/File Photo

ANKARA (Reuters) - Turkish President Tayyip Erdogan said he will hold discussions at the next cabinet meeting on adopting heavier measures for supermarkets and stores that charge excessive prices for goods, broadcaster Haberturk reported on Monday.

Annual inflation in Turkey is more than 85%.

Speaking to reporters on his flight back from Qatar, Erdogan said previous fines were not sufficient to punish such sellers and authorities are following the issue closely.

"Inspections will continue with very different methods because apparently fines are not improving things... The main point is to make them pay a heavier toll," Erdogan said, according to Haberturk.

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29-11-2023 06:33:31 (UTC+7)

EUR/USD

1.1005

+0.0015 (+0.14%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

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Sell (1)

EUR/USD

1.1005

+0.0015 (+0.14%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

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Buy (9)

Sell (1)

GBP/USD

1.2712

+0.0019 (+0.15%)

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↑ Buy

Moving Avg:

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Sell (0)

USD/JPY

147.06

-0.42 (-0.28%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (7)

AUD/USD

0.6657

+0.0008 (+0.13%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

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USD/CAD

1.3565

-0.0009 (-0.07%)

Summary

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EUR/JPY

161.85

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Summary

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0.9653

+0.0001 (+0.01%)

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-145.50 (-0.83%)

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1,792.55

-8.60 (-0.48%)

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Sell

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10,003.40

+67.30 (+0.68%)

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Sell

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 EUR/USD1.1005↑ Buy
 GBP/USD1.2712↑ Buy
 USD/JPY147.06↑ Sell
 AUD/USD0.6657↑ Buy
 USD/CAD1.3565↑ Sell
 EUR/JPY161.85Neutral
 EUR/CHF0.9653↑ Buy
 Gold2,045.00↑ Buy
 Silver25.115↑ Buy
 Copper3.8518↑ Buy
 Crude Oil WTI76.59Sell
 Brent Oil81.47Sell
 Natural Gas2.797Sell
 US Coffee C172.53↑ Sell
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 DAX15,992.67Buy
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 IBEX 3510,003.40↑ Sell
 BASF42.705Sell
 Bayer30.56↑ Sell
 Allianz230.55↑ Buy
 Adidas186.66Sell
 Lufthansa7.787↑ Sell
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 Deutsche Bank AG11.090↑ Buy
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