ISTANBUL—The 2-decade financial increase that lifted hundreds of thousands of Turks into the center class is starting to unravel, threatened by a foreign money disaster that has folks lining up for backed bread, chopping again on meat and fleeing for a greater life in Europe.
The Turkish lira has misplaced as a lot as 45% of its worth this 12 months, making atypical Turks poorer. The pandemic-era consumer-price will increase which have plagued economies the world over are supersize in Turkey, the place inflation stands at greater than 21%. Folks listed here are speeding to commerce their shrinking wages for {dollars} and gold, are consuming out much less and are having extra hassle discovering imported items, together with drugs.