Turkish lira slump turns books into vanishing luxuries / V000_9UD633
Clip ID 2140178
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Description
The publishing sector in Turkey is going through a difficult period due to the freefall of the Turkish lira. Publishers, heavily dependent on imported paper, find themselves forced to raise the prices of books and fear a drop in sales.
Turkey is suffering a currency calamity because the lira hit record lows against the dollar.
It lost nearly 30 percent in value in the last month alone against the greenback, and more than 45 percent since the start of the year.
Turkey's annual inflation surged over 20 percent, official data showed early this month, decimating the Turks' purchasing power.
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