Furniture companies to freeze prices until end 2023
ISTANBUL
Furniture companies have joined some large supermarket chains in heeding the call from Trade Minister Ömer Bolat to join efforts to fight inflation.
Its members will not increase the retail prices until the end of 2023, the Furniture Associations’ Federation (MOSFED) has announced.
MOSFED represents companies with 50,000 stores and 45,000 furniture manufacturers.
Earlier, Türkiye’s largest supermarket chains, including Migros, BİM, Şok and A101 have announced that they will offer up to 50 percent discount on certain products.
Bolat earlier this month called on supermarkets to launch discount campaigns on the 100th anniversary of the Republic.
In a statement on Oct. 10, the minister vowed that the government would succeed in the fight against inflation with “its macroeconomic, monetary, credit and foreign exchange policies as well as through the inspections in the markets against practices which stoke inflation.”
The annual inflation rate picked up from 58.9 percent in August to 61.3 percent in September.
Türkiye is moving toward anchoring inflation, Finance Minister Mehmet Şimşek said earlier this week, adding that annual inflation would fall in the second half of next year.
Meanwhile, Birol Küle, the head of the Competition Board, said that the watchdog issued a total of 10.4 billion Turkish Liras in fines over the past four years for practices which violate competition rules and harm consumers.
He noted that they launched probes into the algorithm used by e-commerce platforms and investigations into supermarkets and private hospitals in the wake of the pandemic.
