Tayphon Unn is a second-hand shop owner in Ankara, Turkey's capital. He told the "Global" magazine reporter that a few years ago, second-hand goods were not popular in Turkey, but with high inflation and soaring prices, the proportion of customers buying second-hand goods has increased significantly. Among them, electronic products, automobiles, and clothing are the main commodities of second-hand transactions.
A man displays Turkish lira banknotes at a currency exchange counter in Ankara, Turkey, on August 24. Xinhua News Agency (Photo by Mustafa Kaya)
Since 2022, Turkey's inflation rate has remained high. In August, inflation was still close to 60% annualized.
According to statistics, the exchange rate of the Turkish currency lira against the US dollar fell by about 44% in 2021, by about 30% in 2022, and by about 20% in the first half of this year.
The devaluation of the currency and severe inflation have opened Turkey's domestic prices into a "rocket" mode. According to data released by the Turkish Statistical Institute, Turkey's consumer price index (CPI) rose by 58.94% in August 2023 compared to the same period last year. Chronically high prices not only weaken the purchasing power of the population, but also change the way of life of ordinary Turks.
1. Rent is unaffordable for college students
In September, college students who are returning to school have to face soaring rents. Severe inflation has forced landlords across Turkey to continue to raise rental prices, with some even demanding a year's advance payment of rent.
In Turkey, although public universities are free, housing and living costs are high. Cheap student dormitories do not meet the demand. In order to ease the pressure of family renting, more and more students choose universities closer to home.
Serkan Guzel from the southern Turkish city of Mersin told the Global magazine that rent has become the biggest concern for out-of-town students. Although most students apply for public dormitories, due to the limited dormitory of the school, many students still have to rent off-campus, and expensive rent has become their "biggest problem".
According to a study released in June by the Centre for Economic and Social Research of Istanbul Bahcesehir University, rents across Turkey rose by 101% year-on-year in May.
The monthly living expenses of Guzel are 4500 Turkish lira (1 Turkish lira is about 0.27 yuan), including rental and daily expenses. But in Ankara, the average monthly rent for an average two-bedroom apartment is 8,000 Turkish liras. "Rents are rising every month, it's too expensive." Guzel sighed.
He said he had to find a part-time job to earn money because the cost of living was skyrocketing in addition to rent. "There are many college students like me, and in addition to studying, we have to work early in order to finish our studies."
Turkish education expert Nur Edem Erzelen said that inflation not only increases the cost of living for college students, but also affects the concept of college students choosing majors, and the work treatment after graduation has become the primary factor considered by college students. He pointed out that at present, the demand for majors such as law, medicine and education in Turkish universities is gradually decreasing, and the popularity of disciplines related to computer science is increasing year by year. Due to Turkey's deteriorating economic situation, a significant number of university students hope to work abroad after graduation, he said.
2. Second-hand goods are starting to sell
Persistently high inflation and a sharp depreciation of the Turkish lira have led to a plummeting standard of living among the Turkish population, some of whom are living on the official monthly minimum wage of about 11,400 TL.
Istanbul's Yonielem Center for Social Research surveyed 2,100 people and found that 67 percent were worried about falling living standards and 64 percent worried about not being able to pay their debts due to inflation. In order to cope with the increasing cost of living, many people have begun to buy second-hand goods and reduce their basic living expenses.
According to a recent study by the German online platform specializing in data collection, retail sales of second-hand goods in Turkey have increased more than 4-fold in recent years.
Esra Yankee, a 30-year-old teacher, said while shopping that buying second-hand goods was a helpless move. "I like to buy clothes, but the new season clothes are very expensive and the price is rising, so I can only buy second-hand ones."
A few years ago, she said, most Turks thought buying second-hand clothing was a disgraceful affair. But now more and more people are unable to make ends meet, buying second-hand goods has become the norm, and the consumption concept of Turks is changing. "People have to use their limited income to meet basic living expenses."
3. Reduce non-essential expenses
The financial difficulties caused by high inflation also affect people's cultural life. In order to make ends meet, they had to cut back on social and recreational activities.
According to a survey recently released by the Turkish Statistical Institute, more than 90% of Turks have not participated in any cultural activities in the past 12 months, and the lack of money is the main reason for this.
The survey showed that 85.3% of Turks aged 15 and over had not been to a cinema, 93.7% had not seen a live performance, 92% had not been to a cultural venue, and 94.9% had not watched a live sporting event in the past year.
Melt Eker, a lawyer who lives in Ankara, said he used to participate in social and recreational events twice a month. But in the past 12 months, he has only gone to the opera once with his wife. He said his family of three had to cut back on spending on non-essential items and go into "self-preservation mode" as the cost of living soared due to inflation.
"Now everything is getting incredibly expensive. Because the price of goods is always adjusting, people have begun to become numb to prices, and our priority is to meet basic living needs. Ek said.
Some citizens said in interviews that due to the sharp rise in the price of food and alcohol, they had to reduce the number of gatherings and reduce the cost of gatherings. Even people with stable incomes have a hard time adapting to the rate of rising prices.
Mr. Eker said that he and his friends used to meet once a week, but now they meet every two months and go to the cheapest places. "Inflation has taken away our cultural life." Eckel said.
On August 5, Turkish President Recep Tayyip Erdogan, speaking after a cabinet meeting in Ankara, vowed to "curb inflation." He called for stronger measures against rising prices, saying it would be an "uphill battle that requires patience." Finance Minister Shimšek said it would take time to reduce inflation and Turkey was in a transition period, calling on citizens to be patient.
Subsequently, the Turkish government raised its annual inflation forecast for the end of the year from 58% to 65% and the inflation forecast for 2024 from 24.9% to 33%.
Consumers who bear the brunt of the high cost of living pressure, especially low-income families and retirees, say there is a limit to patience.
Column editor-in-chief: Qin Hong Text editor: Lu Xiaochuan Title picture source: Xinhua News Agency Photo editor: Zhu Huang
Source: Author: Universal Magazine