Minimum inflation!

Minimum inflation!
Date: 30.12.2019 14:00

The minimum wage in the face of hikes loaded on the back of the citizen was overshadowed.

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The government took high average inflation and lower month-to-month inflation seriously.
 
The 15.04 percent raise to the minimum wage that concerns about 7 million employees was overshadowed by hikes imposed on the citizen's back. 
 
With the determination of the minimum wage increase rate for millions of employees, reactions from citizens and NGOs continue to come. 
 
There was an increase of 304 TL with a 15.04 percent increase in minimum wage. 
 
The state took high average inflation in determining its own income, and low month-to-month inflation while determining the citizen's income. 43 percent of Turkey while working minimum wage, Minister Selçuk, "We are better than many EU member states," she said.
 

INFLATION GAME FOR MINIMUM WAGE

 
Inflation data is not based on how much the prices increase month-to-month, but based on how much the prices rise according to the 12-month averages. 
 
In this case, the price of 418 goods and the basket of goods in which the inflation account was made increased by 10.6 percent in November compared to the previous November. 12-month average inflation in November was 15.9 percent.
 
In November of this year, the rate of increase in prices slowed down as the general level of prices rose sharply in November last year. 
 
The same situation was observed in October and the monthly inflation was announced as 8.5 percent in October, while the average inflation was 16.4 percent. 
 
Moreover, the government takes average inflation rather than month-to-month inflation into account when calculating tax and duty hikes paid by citizens.
 
According to the average producer inflation regulation announced by TURKSTAT, taxes, fees and penalties were raised 22.58 percent. 
 
However, if the monthly rate of inflation was made as it was done to the minimum wage, only 1.7 percent of tax, fees and penalties would have to be increased. Producer prices in October increased by 1.7 percent (not average) compared to the previous October.

YEREL HABERLER

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