Civil servants and pensioners monitor December inflation

SHAFAQNA TURKEY – The Turkish Statistical Institute (TUIK) will announce December inflation data tomorrow at 10:00 am.

The consumer price index (CPI) rose 2.88 percent in November from the previous month, while consumer prices rose 14.05 percent between July and November, according to Turkstat data. Thus, over the 5-month period, when the 7% increase in wages was overfulfilled, an inflationary difference formed.

As a result of the collective agreement, civil servants will receive an inflationary difference if the CPI remains stable in December or if monthly inflation does not fall by more than 6.18 percent. For the first six months of 2023, there will be an increase of 8 percent plus the inflationary difference.

Civil servants, contractors and pensioners will receive an increase in wages and an inflationary difference on January 15.

On the other hand, pensioners SSK and Bağ-Kur will receive a salary increase at the rate of inflation for the last 6 months of last year.

The issue of the payment of social benefits to civil servants is on the agenda

President Recep Tayyip Erdogan, in a statement after the latest cabinet meeting, said they were determined to reflect Turkey’s income and wealth for all segments of the population, especially employees, and said they would also look to increase the number of civil servants and pensions. with this approach.

In this context, it is expected that from January additional support will be provided to the wages of civil servants and pensioners in addition to the inflationary difference and the allowance they will receive under the collective agreement.

According to the December study of inflation expectations, conducted by AA Finance with the participation of 14 economists, the average inflation expectations for December were announced at the level of 2.61 percent, respectively, annual inflation expectations were announced at the level of 66.59 percent.

If the expectations study is implemented, based on an increase in inflation of 17.02 percent over the period from July to December, an inflationary difference of 10.11 percent in wages should be made in accordance with the collective agreement, as well as an increase of 8 percent and an increase in by 18.11 percent.