Turkey Food & Drink Q4 2018
We maintain the view that growth in Turkey's food and drink consumption will decelerate in 2018 and 2019 in line withthe country's worsening economic performance. Persistently high inflation, rising interest rates and depreciating domestic currencyare expected to significantly erode household purchasing power over the next few years. Considering the increasingly challengingconsumer outlook, hard discounters stand to benefit as consumers move down price points and shift away from non-essentials.
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