Turkey to open 1,000 new markets to counter inflation

Turkish President Tayyip Erdogan said on Sunday the government had ordered cooperatives to open about 1,000 new markets across the country to provide "suitable" prices for consumer goods, as annual inflation rises toward 20%.

"These are places where prices are suitable to our citizens' budgets," Erdogan said after visiting an agricultural cooperative outlet in Istanbul, adding that the planned new outlets would help balance out markets.

"We gave the order for about 1,000 of these businesses to open around Turkey, starting at 500 square-meters each," he told reporters.