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Turkey to look again at inflation, situation of workers in July: President

12 January 2022 17:02 (UTC +04:00)

In the middle of this year, Turkish officials will reassess the situation of workers in light of inflation, the nation’s president said on Wednesday, APA reports citing Anadolu Agency.

"This coming July, by looking at the inflation rate and the conditions, we will reevaluate the situation of our workers," Recep Tayyip Erdogan told the Justice and Development (AK) Party's parliamentary group.

The remarks come just weeks after Erdogan announced a 50.4% minimum wage hike to 4,250 Turkish liras ($307) as of Jan. 1, a move praised by many as a balm against recent high inflation.

Civil service salaries were also increased by 30.5% and the lowest retirement pension was increased about 66% from 1,500 Turkish lira to 2,500 Turkish lira ($180).

Erdogan said the current bump in the country’s inflation rate – much like a rise in foreign exchange rates – "does not match the realities of our country or economy."

"Hopefully, we will eliminate this swelling as soon as possible and prevent our nation from being under the burden of unfair price increases," he added.

Turkiye posted a 36.08% annual rise in consumer prices in 2021, the highest in 19 years, the country’s statistical authority said on Jan. 3.