Turkey to Lower Taxes on Basic Foods to Fight High Inflation

Members of Turkey's main opposition Republican People's Party burn invoices to protest high electricity prices as they gather in front of a monument of the founder of modern Turkey, Mustafa Kemal Ataturk, in Ankara, Turkey, on Feb. 9, 2022. Burhan Ozbilici/AP Photo

ISTANBUL—Turkey’s president announced a significant reduction in taxes on basic food supplies Saturday as the country faces rampant inflation and numerous protests over eroding living standards.

President Recep Tayyip Erdogan said the value-added tax would be lowered to 1 percent from 8 percent on food purchases. His decision will be published in the Official Gazette and go into effect on Monday.