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Expand chart
Data: Investing.com; Chart: Axios Visuals

Turkey’s new central bank governor has cut the country's interest rates by 7.5 percentage points in the past 2 months and the Turks are behaving as if the country is headed for another bout of strong inflation.

The intrigue: The uncertainty in the country is growing such that supermarkets can't keep lids on their items.

  • Lids are becoming so hard to find that people are literally stealing them off the shelves, Bloomberg's Taylan Bilgic reports. In fact, they are becoming a "black market item," according to supermarket workers in Istanbul's working-class Gungoren neighborhood.

What's happening: "As Turks hunker down for the winter, a time of higher food prices, they've traditionally turned to home canning to stretch the summer harvest, cooking vegetables and fruit and pickling them to stock up for the colder months," Bilgic writes.

  • "An unprecedented shortage of lids, used to keep a tight seal in place, is giving a glimpse of the urgency that many Turks feel about the task this year."

What they're saying: "People think prices will surge in the winter, so they take precautions," Ibrahim Bilici, the owner of a dollar store, told Bilgic.

  • "I've been doing this job for almost 30 years. I've never seen anything like this."
  • Still seared in people's minds are memories of a spike in the cost of fresh fruit and vegetables, whose annual price increases peaked at almost 73% in April.

Go deeper: Turkey faces an economic crossroads after Istanbul elections

Go deeper

Biden confronts mounting humanitarian crisis at the border

Illustration: Eniola Odetunde/Axios. Photo: Pool/Getty Images     

Just over a month into his presidency, President Biden is staring down a mounting crisis at the border that could be just as bad as the ones faced by Barack Obama and Donald Trump, if not worse.

Why it matters: Immigration is an issue that can consume a presidency. It's intensely and poisonously partisan. It's complicated. And the lives and welfare of vulnerable children hang in the balance.

Erica Pandey, author of @Work
2 hours ago - Economy & Business

The rise of vaccine passports

Illustration: Annelise Capossela/Axios

Vaccine passports were touted early in the pandemic as an important piece of the plan to get people back to normal life. Now they’re becoming a reality.

Driving the news: CLEAR, the secure digital identity app that you see in airports around the world, and CommonPass, a health app that lets users securely access vaccination records and COVID test results, have joined forces.

"Vaccine tourism" stretches states' supplies

Illustration: Sarah Grillo/Axios

Americans who are highly motivated to get vaccinated are traveling across state lines after hearing about larger vaccine supplies or loopholes in sign-up systems.

Why it matters: "Vaccine tourism" raises ethical and legal questions, and could worsen the racial socioeconomic and racial inequalities of the pandemic.