Purchasing Power Parity (Food, Beverages And Tobacco), 2018
Price level index for food & non-alcoholic beverages main group in Turkey was 70
Price level index is an indicator of purchasing power of national currencies according to currency conversion rates. If a country’s price level index is higher than 100, the country is concerned relatively “expensive” to the average of compared country group and if it is lower than 100 then it is relatively “cheap” against the same compared group.
Price level index is not just calculated for gross domestic product overall but also the main and sub-groups. One of these main groups is food, beverages and tobacco. For 37 countries comprised in the framework, price level indices and purchasing power parities figures are to be obtained not only for the main groups, but also the sub-groups and classes of food and non-alcoholic beverages main group such as breads and cereals, meats, etc.
Price level index for food and non-alcoholic beverages main group in Turkey was 70. This figure represents that the same basket of goods and services purchased for the cost of 100 Euros in total of 28 European Union countries, can be purchased for 70 Euros in Turkey.
The country groups included in the comparison were the 28 member states of European Union, 3 European Free Trade Association (EFTA) countries (Switzerland, Iceland and Norway), 5 candidate countries (Turkey, North Macedonia, Montenegro, Serbia and Albania) and 1 potential candidate country (Bosnia and Herzegovina).
Most expensive country in food and non-alcoholic beverages main group was Norway
In food and non-alcoholic beverages main group, Norway had the highest price level index with 163, whereas North Macedonia had the lowest with 62 among of 37 countries included in the comparison programme.
Price level indices for food & non-alcoholic beverages main group, 2018
[EU28=100]
Source: EUROSTAT
Price level index for tobacco sub-group in Turkey was 35
The price level index for “tobacco” sub-group of Turkey was 35 according to 2018 results. This figure shows that Turkey is 65% cheaper than EU average in “tobacco” sub-group. In addition, the sub-group having the highest price level index was “alcoholic beverages” with 163 for Turkey.
Price level indices for food, beverages and tobacco in Turkey, 2018
[EU28=100]
In Turkey, the highest price level index was realized in the “milk, cheese and eggs” with 96 and the lowest price level index was realized in “bread and cereals” with 61 within the classes of “food and non-alcoholic beverages” sub-group.
Price level indices classes of food and non-alcoholic beverages main-group, 2018
[EU28=100]
Source: TÜİK
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