by Burak Akinci
ANKARA, Dec. 25 (Xinhua) -- "Our budgets keep shrinking," university student Ege Yucel lamented. As the clock winds down to 2025, Turkish consumers like Yucel still feel the inflation squeeze as they have to go New Year shopping on tighter budgets.
"For the last five years, we have seen our New Year's budgets getting smaller and smaller, and prices are constantly rising," Yucel told Xinhua in Ankara's Tunali Hilmi Street, a popular venue for shoppers.
In Ankara, Türkiye's second most populous city, the bustling markets that usually teem with shoppers buying festive goods are notably quieter this season.
Some retailers have been offering discounts throughout December to encourage shoppers to open their wallets. Online shopping is also an option to find bargains.
"Compared to previous years, hardships have increased because of economic struggles," said Ahmet Enes Keskin, a young English teacher, as he shopped with a colleague.
Nevertheless, Keskin said he keeps trying to buy small presents for family members. "I still love very much the spirit of New Year because I come together with the people I love."
Mehmet Polat, a retiree, whose segment of society has been impacted the most by the cost-of-living blow, said he is returning empty-handed from his shopping.
"I couldn't buy anything for my loved ones and family members. I would have wanted to purchase their gifts, but because of my financial strains, I was not able to," he complained.
As a result of an anti-inflation program launched 18 months ago, Türkiye's annual inflation rate dropped to 47.1 percent in November, down from 48.6 percent in October and further away from a peak of 75.4 percent in May, official data showed earlier this month. But the figure is still relatively high, prompting households across the country to prioritize essentials over holiday splurges.
Some people are choosing symbolic or handmade gifts over store-bought items. Many families are opting for simpler home-cooked meals instead of eating out. Even popular items like roasted turkey, a symbol of good luck for the year ahead, have become increasingly unaffordable.
The economic challenges are not limited to food. Rising utility bills, transportation costs, and rent hikes are eating into disposable incomes.
"Consumers have noticed inflation slowing but remain frustrated with persistent high prices," Senol Babuscu, a professor of finance from Ankara's Baskent University, told Xinhua.
"People generally don't have money to spend when they can barely pay their rent and basic needs with stagnant wages," Babuscu said.
Recognizing the financial struggles of their residents, some municipalities have stepped in to organize free public events, like fireworks displays, concerts, and street celebrations.
"Hope needs to be alive. We have to keep hoping for a brighter future," said Yucel, the university student. ■
