80 percent surge in prices in first half of 2020
he Consumer Price Index (CPI) increased by 80 percent during the first six months of this year, when values are denominated in lira. In the previous six months ending in 2019, the index rose by just six percent. The total increase for the past 12 months, ending in June, was 90 percent. The CPI is published by the Central Administration of Statistics (CAS). There has been no index based on ‘fresh dollar’ prices, which is the reference of value for most goods. Not all items included in the index are valued at the same currency exchange rate. Some goods are valued at a rate of around LL1,500 to the dollar which includes utilities and energy (which registered zero change), health care (increasing by ten percent) and wheat which is a component of several food products. Other goods have been imported at various currency exchanges in the black market which has varied from LL2,200 at the beginning of the year, or even less given that many goods
