Melted minimum wage 2,125 liras
EmployeeThe increase in civil servants and retirees at the beginning of July evaporated in 2 months. The raises, which were scooped out as a pay raise to low-income people, who grow poorer every day due to the high cost of living, were scooped away. The purchasing power of the lowest salary of civil servants, which amounted to 20,352 lira in July, decreased to 16,560 lira in early September due to increases. The purchasing power of the minimum wage, which in July was 11,402 liras, decreased to 2,125 liras and fell to 9,277 liras. The purchasing power of the lowest pension of 7,500 lira, which did not increase in July, in the bazaar market decreased to 4.77 lira.
2-MONTH INFLATION 22.9 PERCENT
The Turkish Statistical Institute (TUIK) put the consumer inflation rate in August at 9.09 percent. Inflation for July was also 9.49 percent. Thus, inflation in the first two months after the increase in July reached 19.44 percent. The Inflation Research Group (ENAG) also calculated the inflation rate for August at 8.59 percent. According to ENAG calculations, bimonthly inflation covering the months of July-August was 22.90 percent.
THE OFFICER LOSES 2,370 TL
Memur-Sen announced that the lowest salary for single and childless civil servants increased to 20,352 lire in July. The purchasing power of this civil servant at the beginning of September was reduced by 1,764 lira according to the calculation of TUIK, and by 2,370 lira according to the calculation of ENAG. The purchasing power of the lowest pension of retired civil servants, which in July increased to 8,657 lira with an increase of 25 percent, decreased by 1,613 lira at the end of August to 7.44 lira. These retirees did not benefit from the increase of 8,000 77 lire. The purchasing power of the minimum wage, which increased to 11,402 lira in July, decreased to 8,546 lira according to TUIK and 9,277 lira according to ENAG at the end of August.
The purchasing power of retirees decreased to 4,077 TL
of the year Recipients of the lowest worker’s, tradesman’s and farmer’s pensions, which were raised to 7,500 lira at first but never increased in July, suffered a huge loss in the face of price increases that have been going on for two months. . At the end of August, the purchasing power of these retirees, whose number is approximately 9 million, from 7,500 liras, in the bazaar market decreased to 5,243 liras with the TÜİK account and 4,077 liras with ENAG. account. In addition, the wages of many private sector employees who received wages above the minimum wage fell below the minimum wage. For example, the current purchasing power of a private sector employee, whose salary was 14,000 lira in July, is 11,391 lira.
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.