Inflation of the poor is 113 percent

The Turkish Statistical Institute (TUIK) announced consumer inflation for October. The variation of the CPI in October 2023 was 3.43 percent compared to the previous month, 54.26 percent according to twelve-month averages, 55 percent compared to December of the previous year and 61.36 percent compared to the same month of the previous year. last year. Consumer inflation for just four months was 29.4 percent.

In its statement following the inflation data, the Research Center of the Confederation of Revolutionary Trade Unions (DİSK-AR) said: “TUIK announced that food inflation was 71.99 percent in the period of October 2023. “However, this inflation rate is far from reflecting the real inflation felt by the public,” he said.

The statement also mentions that despite the lawsuit filed by DİSK against TURKSTAT after TURKSTAT stopped announcing the item basket price list in June 2022, the item basket data has not yet been published.

FOOD INFLATION FOR THE POOR IS 113 PERCENT

The statement said: “The official average inflation rates are not the rates that low-income people and workers encounter and feel in daily life” and included data from DİSK-AR research.

According to data from DİSK-AR, food inflation was 72 percent on average, while food inflation among retirees was 88.4 percent.

While food inflation for the third 20 percent income group was 82.1 percent, food inflation for the second 20 percent low income group was 94.1 percent, and food inflation for the second 20 percent low income group was 94.1 percent. food for the poorest 20 percent income group was 113 percent.

While food inflation for the fourth (highest) 20 percent income group was 68.8 percent, food inflation for the highest income group was 52.4 percent.

Thus, while food inflation for the poorest income group was 113 percent, food inflation for the highest income group remained at 52.4 percent.

“This situation reveals that inflation is felt significantly differently depending on income groups, different social segments and classes,” the statement says.

THE DIFFERENCE BETWEEN INFLATIONS HAS BEEN WIDE

In the statement that compares the data from 2005 and 2023, it was stated that the difference between food inflation and general inflation has begun to widen in recent years and the following was noted:

* The CPI index, which was 120 in 2005, increased to 1,749 in October 2023. The food price index, which was 113 in 2005, increased to 2,484 in 2023. Thus, the CPI has increased by 17 .5 times since 2003 and 14.6 times since 2005; Food prices have increased 25 times since 2003 and 22 times since 2005.

* The annual inflation rate, which was 5.8 percent in 2005, will be 61.4 percent in 2023. Annual food inflation, which was 3.8 percent in 2005, increased to 72 percent cent in 2023.

* On the other hand, the gap between food inflation and general inflation has begun to widen in recent years. The food price index, which was 7 points below the CPI in October 2005, rose 935 points above the CPI in October 2023.