Turks aren’t ready to put a lid on economic concerns

As the threat of inflation looms in Turkey, grocery stores struggle to keep lids on the shelves.

September 26, 2019

Sirah Quyyom / Flickr

Lids — yes, lids — are disappearing from Turkish shelves. And, according to Bloomberg, the frenzy is so extreme that grocery store workers say lids are turning into black market items.

In a country recovering from recession, experts think this unprecedented shortage is a sign that consumers are bracing for yet another bout of inflation this winter. 

Pickled veggies, fresh memories

Quick recap: Turkey’s been dealing with an inflation crisis for more than a year. President Tayyip Erdogan and the country’s central bank have been butting heads over how to fix the problem, and Turks are feeling the jam. The unemployment rate — and the prices of fruits and veggies — have spiked.     

Traditionally, as Turks stock up on food for the winter (when grocery prices are higher), they turn to home canning. Since economic stability is iffy this year, they’re going harder than normal. And because lids are the socks of the canning process and always seem to get lost – the world’s go-to flavor savers have become a hot commodity.

Erdogan-der what’ll happen next…

Around the world, investors are betting that emerging markets are on the ups. But Turkey still has Erdogan to worry about. Lately, he’s irked several major world powers, including the US

Turks are concerned that his actions could further break the seal on his already loose relationships with world leaders… and put them in a real pickle this winter.

Join 1.5m+ professionals getting The Hustle daily news brief

Business and tech news in 5 minutes or less

100% free, no ads or spam, unsubscribe anytime


How'd Bezos build a billion dollar empire?

In 1994, Jeff Bezos discovered a shocking stat: Internet usage grew 2,300% per year.

Data shows where markets are headed.

And that’s why we built Trends — to show you up-and-coming market opportunities about to explode. Interested?

Join us, it's free.

Look, you came to this site because you saw something cool. But here’s the deal. This site is actually a daily email that covers the important news in business, tech, and culture.

So, if you like what you’re reading, give the email a try.

If you don’t like it, unsubscribe any time. Privacy policy.