The Dollar Decreases: What About Commodity Prices?

With the exchange rate stabilizing at approximately 27,500 lira at the end of the week, it is expected that prices of goods and food items will begin to decline in accordance with the new exchange rate. Sources within the Ministry of Economy confirmed to "Al-Joumhouria" that during the meeting held last Friday at the Ministry of Economy, chaired by Minister Amin Salam and attended by supermarket owners, importers stated that the pricing of goods was based on a dollar rate of 37,800 lira. However, with the recent decline of the dollar against the lira in the black market and the reopening of the opportunity for them to benefit from the Sayrafa platform after it had been previously suspended, they will start updating their price lists and sending them to traders and supermarket owners within 48 hours. Thus, starting Wednesday, the new prices should be circulated to everyone and fully implemented to include all goods. Additionally, traders who raised their prices based on a dollar rate of 37,000 are required to lower them again according to the new dollar exchange rate. As for the dollar rate that suppliers will adopt, the sources stated: No one can predict what the prices will be today on the platform or in the black market, but in any case, there is a decrease in the dollar price of at least 10,000 lira.