A basket of groceries in Istanbul is now more expensive than in the UK.
I compared two online shopping baskets - 1 from Carrefour for delivery in Istanbul; one from Sainsbury's.
The price of 19 basic items in the UK totalled £44.53.
The price of the 19 basic items in Istanbul totalled 4,425.18 TL / £71.99 at today's exchange rate.
I compared using the cheapest available options and the most similar items/quantities available.
There are a few items that really push up the cost of the grocery basket in Turkey, namely beef and instant coffee (?!). Some goods such as olive oil are roughly the same price as in the UK, while some items such as eggs, milk and onions are quite a bit cheaper in Turkey.
The gross minimum wage in Turkey is 33,030 (£537.88) a month.
The gross minimum wage in the UK is £12.71 an hour for people over 21. Assuming a 35 hour working week, this is £444.85 a week.
None of this is to say that people in the UK have it easy. I know the cost of living crisis - already years in the making and now exacerbated by the war in Iran - is hitting many people very very hard.
The point I'm rather trying to make is that inflation in Turkey is crazy, pushing living costs up to levels that far outstrip what many people earn.
@KendineMuhabir Yok öyle kölelik düzeni! Asıl Taliban zihniyetli erkekler eve hapsolsun! Hem dünyada savaşlar olmaz hem de sokaklarda cinayetler, tecavüzler ve diğer her türlü şiddet azalır. İnsanlıktan nasibini almamış medeniyetsizler sizi.
@HiperaktifBorsa@gelen_uzak25040 Erkeklerin ortalaması bu tam tersine. Hatta parayı bulan, eşini şutlayıp, çocuğu yaşında genç kadın peşine düşüyor hemen.
@1001Kredi Faiz arbitrajından para kazanmışsınız; kredi faiz oranı aylık %0,99 iken mevduat ya da para piy. fonu aylık %3,5 getiri sağlıyor.İlaveten kredi kartı ödemesi de ileri tarihli olduğundan oradan da faiz geliri gelmiş. Finansal olarak rasyonel bir davranış; telonun maliyeti düşmüş.
@AyseOztaylan@alitekintr Yayınlayacağı makaleyi ya da üniversitede tezini yapay zekaya yazdırıp kendi yazmış gibi yutturmaya çalışanlar yakalanmamak için insan gibi yazan program arıyor.
FT Exclusive: A broker for the US defence secretary attempted to make a big investment in major defence companies in the weeks leading up to the US-Israeli attack on Iran, according to three people familiar with the matter. https://t.co/EO0HBlfd6b
Iran is trying to shake the reserve money attribute of the US Dolar by trading oil in other currencies, just like they allowed recently an Indian oil tanker to pass through the SoH after paying in Chinese Yuan.
Iran just announced the end of the US dollar. Any ship trading in Chinese Yuan can pass through the Strait of Hormuz for free, while Western ships will be forced to pay massive tariffs. They are actively destroying American economic dominance.
@mishtal@BillAckman And US military at Diego Garcia are 15,000 kilometers away from America.
Didn’t you people do enough damage to the Middle East & the world - with your made-up “WMD’s in Iraq” con job?
Go away.
Good Morning from #Germany, where 10y govt bond yields have risen >3%, their highest level since 2011. The recent increase is driven disproportionately by higher long-term inflation expectations – meaning real 10y yields have fallen from 1.35% to 0.77%.
The chart tells a striking story: between 2014 and 2022, real yields were negative, allowing Germany to effectively reduce its debt while “sleeping.” Only since 2022 – and especially after the suspension of the debt brake in 2025 – have investors once again begun to demand positive and higher real interest rates.
Bloomberg on the selloff in the US bond market:
“Not since 2023, when the central bank was still lifting rates, has the two-year yield risen so much above the Fed’s rate ceiling. On Friday, five-year yields surpassed 4% for the first time since July, while the 10-year climbed to 4.39%, the highest since August.”
#economy #markets #bonds #MiddleEastWar
Iran fired a pair of intermediate-range ballistic missiles at Diego Garcia, a joint U.S.-UK base in the Indian Ocean.
One missile failed in flight, and another was engaged by a US Navy destroyer using an SM-3 missile.