Businesses Fined for Failing to Display Price Lists
Over 21,000 businesses in Ankara have recently been fined a total of 47 million Turkish Liras for not complying with regulations that require them to visibly display their price lists. This regulation was implemented at the beginning of 2024 by the government to protect consumers’ interests and ensure they have accurate information.
The Trade Ministry has emphasized the importance of this rule due to the price discrepancies among businesses in the food and beverage sector. Constant changes in tariffs and price lists have made it difficult for consumers to make informed choices. As a result, failing to display prices can put a burden on consumers.
Since the regulation was put in place, officials have inspected around 115,000 businesses to ensure they are following the price display requirements. Out of these inspections, it was found that 21,659 businesses were not in compliance and were fined accordingly.
Impact of Regulations on Business Sector in Turkey
Recent regulations in Turkey have resulted in fines totaling 47 million liras for businesses not complying with the new rules. The Ministry of Commerce has reported that most businesses in the sector are adhering to the regulations, leading to increased consumer trust due to the transparency created.
Price Trends in Istanbul
In Istanbul, the cost of dining out saw a slight increase of 0.1 percent in June compared to the previous month. However, the annual increase in prices eased from 102 percent to 97.2 percent, according to data from the Istanbul Chamber of Commerce (ITO).
Overall Inflation Data
Across Turkey, restaurant and hotel prices rose by 3.1 percent monthly, resulting in an annual increase of 90.67 percent last month based on the latest official inflation data. This increase in prices led to calls for a nationwide boycott of restaurants in late April, with social media users expressing their discontent with the rising costs.
