71 sats \ 3 replies \ @hafifuyku 8 Jan \ on: My Experience of Living in Turkiye under Soaring Inflation 🇹🇷 bitcoin
Great post @Natalia.
I usually use the big mac index (https://www.economist.com/big-mac-index) to demystify inflation in Turkey.
in January 2021 the price of a Big Mac was 14.99TL. USD exchange rate was 7.47TL/USD. Now a Big Mac costs 145TL (~10X) and USD costs 29.72TL (~4X) This means if they'd let the USD go, it should be at 70 - 75TL/USD
That's not a bad way to compare. Maybe better to compare to some native brand, instead of imported products.
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indeed, and then would back to my conclusion - it varies from merchant to merchant, or maybe that number isn't so important after all? I mean better focus on what we can control right, by hand selecting good and honest people to buy things from:)
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thanks, and an interesting way to see it.
and sharing one more fun fact, Starbucks is cheaper than the local good cafe here 😂
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