What is the inflation difference? The inflation gap is widening…
The inflation gap increases each month, and the difference between civil servants and retired civil servants increases. Officers and retired officers are paid an inflation difference equal to the difference if the raise they receive in the collective bargaining agreement is less than the 6-month inflation rate.
HOW MUCH IS THE DIFFERENCE FROM INFLATION?
Inflation, which continued to rise, evaporated the 8 percent increase in collective bargaining granted to officials and retirees during the first 6 months of the year.
The Turkish Statistical Institute (TUIK) announced inflation of 6.65 in January, 3.15 in February and finally 2.29 in March. Inflation at 3 months was 12.52 in total.
Millions of civil servants and retirees have already received an inflation difference of 4.52 percent.
With the announcement of the inflation rates for April, May and June, the inflation gap will become clear.
INFLATION CONTINUES
The Turkish Statistical Institute (TUIK) announced the consumer inflation data for March.
The variation in consumer prices (CPI) in March 2023 is 2.29 percent compared to the previous month, 12.52 percent compared to December of the previous year, 50.51 percent compared to the same month of the previous year and 70.20 percent according to twelve-month averages took place as
Thus, the monthly series of increases in the consumer price index continued in month 51.
According to TURKSTAT, consumer inflation was 3.15 percent monthly and 55.18 percent annually in February.
In the Reuters poll, economists had expected monthly inflation to come in at 2.9 percent in March, with annual inflation falling to 51.3 percent.
In the Anadolu Agency survey, the monthly inflation expectation for March was 2.86 percent and the annual inflation expectation was 51.35 percent.
Turkstat’s results were below market expectations.
The Istanbul Chamber of Commerce announced that the Istanbul Livelihood Wage Index increased by 3.83 percent in March compared to the previous month and 78.62 percent compared to the same period of the previous year.