Türkiye's Istanbul feels strain as inflation, cost of living soar

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Türkiye's Istanbul feels strain as inflation, cost of living soar

STORY: Türkiye's Istanbul feels strain as inflation, cost of living soar SHOOTING TIME: May 10, 2024 DATELINE: May 14, 2024 LENGTH: 00:02:13 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY/SOCIETY SHOTLIST: 1. various of Istanbul in Türkiye 2. various of local shops 3. SOUNDBITE 1 (Turkish): ISMAIL HAKKI, Local clothing shop owner 4. SOUNDBITE 2 (Turkish): FERRUH BUYUKOGLU, Stationery shop owner 5. various of Turkish Treasury and Finance Minister Mehmet Simsek speaking at the press conference in Ankara, Türkiye STORYLINE: Business has been sluggish for Ismail Hakki, who owns a once-thriving clothing shop in Istanbul's old Tahtakale neighborhood. "Business declined to only a fraction of what it used to be," Hakki said as he navigated through the rows of discounted garments in his shop. Hakki's woes mirror the broader struggle gripping Istanbul, Türkiye's economic hub, where inflation has outpaced the already-crippling national rate of 69.8 percent in April, according to the Istanbul Chamber of Commerc

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