"Inflation hits fixed income earners the hardest," says Ali Yalçın

"Inflation hits fixed income earners the hardest," says Ali Yalçın
Date: 4.10.2023 13:00

Making statements regarding the announced inflation, Memur-Sen Chairman Ali Yalçın reminded that it was stated by both politicians and public administrators that the effect of inflation will continue in 2024.

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Turkish Statistical Institute (TURKSTAT) announced the inflation figures for September.
While TURKSTAT announced the monthly inflation as 4.75 percent, the 9-month inflation as 49.86 percent and the annual inflation as 61.53 percent, Confederation of Public Workers Union "Memur-Sen" Chairman Ali Yalçın published a written statement.
Yalçın stated that despite the 3-month period following the announced inflation figures, the inflation receivable is 18.04 percent.
Yalçın pointed out that according to the Medium Term Plan (MTP), the 2023 year-end inflation forecast is 65 percent, and according to the CBRT September expectation survey, it is 67.22 percent. He stated that according to expectation data, inflation is expected to be between 10 and 12 percent in the October, November and December periods.
Noting that the increase in exchange rates is one of the main factors that trigger inflation, Yalçın said, "The exchange rate increase affects fuel prices, fuel prices affect commodity products and other mandatory expenses. This interaction causes improvements and revenue increases to lose their effect in a short time."


Reminding that it was stated that inflation will continue to affect people in 2024, Yalçın pointed out the effect of inflation on fixed-income citizens and said, "As Memur-Sen, we have clearly stated our data for 2024 and 2025, which are compatible with expectations and forecasts, in our commentary with tables and graphs. It should not be forgotten that inflation destroys fixed income earners and labor the most. Our wish is for the inflation agenda to be removed from our lives, economic losses to end, and price stability to be achieved."


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