The purchasing power of the minimum wage fell to 6,911 lire.

Inflationmelted the purchasing power of retirees and employees in 3 months. At the beginning of the year, the purchasing power of 100 lira in the pockets of retirees and employees decreased to 81 lira today. At the beginning of 2023, the salary increases granted to workers, civil servants and pensioners almost evaporated due to inflation. The purchasing power of the minimum wage in the market fell to 6,911 liras, and the purchasing power of the lowest pension from 5,500 liras to 4,469 liras. In the first three months of this year, spanning the period January-March, consumer inflation rose 12.5 percent according to the Turkish Statistical Institute (TUIK) and 23.1 percent according to the Turkish Research Group of Inflation (ENAG).

23.1 PERCENT IN 3 MONTHS

The purchasing power of the lowest-ranking official, whose salary increased to 12,532 liras at the beginning of the year with the increase, decreased to 11,138 liras according to TUIK and to 10,182 liras according to ENAG at the end of March. The purchasing power of the salary of the lower-ranking official compared to prices decreased by 1,394 TL according to TUIK and by 2,350 TL according to ENAG.

All employees felt the drop in wages at the same rate. For example, the loss of purchasing power of the teacher, who received a salary of 13,975 liras at the beginning of the year, reached 2,621 liras with the ENAG account in 3 months, and the loss of purchasing power of the official police officers who received a salary of 17 thousand 892 liras reached 3 thousand 355 liras. The purchasing power of the nurse, whose salary was 15,652 lira at the beginning of the year, decreased by 2,935 lira to 12,717 lira.

There was a loss of 2,194 liras in 3 months in the salary of employees working in public service personnel, which was 11,700 liras at the beginning of the year. The loss of purchasing power of the teacher with a monthly income of 28,750 reached 5,391 liras, and the loss of purchasing power of the salary of the judge who received 45,305 liras reached 8,496 liras.

The purchasing power of the pensioner is 4,469 TL

The rapid increase in inflation also affected retirees and minimum wage earners. The purchasing power of the lowest pension, which was 5,500 liras, decreased to 4,469 liras in 3 months, according to ENAG calculations. When the lower limit of the pension reaches 7,500 liras thanks to the election, this loss will be compensated. The real purchasing power of the minimum wage of 8,506 liras decreased by 595 liras to 6,911 liras.