The Turkish government is preparing to increase jail sentences over charges of food stockpiling to up to three years, the justice minister announced on Tuesday, as the country faces soaring inflation amid an economic downturn.
“We are changing the penalty of food stockpiling and price gouging to between one and three years in prison,” Bozdağ said. “We are increasing both the lower and upper limit.’’
The new regulation arrives as Turkey’s consumer price inflation accelerated to a record-breaking annual 69.97 percent in April, extending a two-decade high, according to data from the Turkish Statistical Institute. The figure is up from 61.14 percent in March.
According to the Inflation Research Group (ENAG), an independent organisation established by economists and academics, the real inflation rate in April in the country measures at 156.86 percent.