The inflation figures for June, which will be announced tomorrow by the Turkish Statistical Office (TUIK), will finalize the increase rates of civil servants' and pensioners' salaries for the second half of the year.
Inflation data collected in the first five months of the year has outlined most of the increase to be achieved.
16.61 percent was set for SSK and Bağ Kur pensioners
The increase in the consumer price index (CPI) in the first five months of the year was 16.61 percent. According to the current table, it is already clear that the increase rate that SSK and Bağ Kur pensioners will receive for July will be at this level. The exact value will be known in early July, plus June inflation.
The salary increases for civil servants and retired civil servants are determined on the basis of collective bargaining agreements and inflation differences. Civil servants will receive a 7 percent salary increase for the second half of the year under the collective agreement. In addition, the difference in salaries will be taken into account if inflation exceeds the established rate in the first 6 months. According to calculations based on 5-month data, the rate of increase for civil servants in July is now a significant 12.41 percent.
It directly affects 25 million citizens
The increase in salary coefficients will have a direct impact not only on civil servants and pensioners, but also on social assistance payments. Disability pensions, salaries for home care and pensions for 65-year-olds, which are linked to the civil servant salary coefficient, are also increasing at the same rate. This situation reveals a comprehensive economic picture that affects a total of almost 25 million citizens, including around 2 million recipients of social assistance.
Economists' expectations for June are 1.04 percent
On the other hand, the expectations survey conducted with the participation of 17 economists on the June inflation data announced by TurkStat has been completed. The average monthly inflation expectation of economists who took part in the survey in June was 1.04 percent.
If there is an increase in line with economists' expectations (1.04 percent), it is estimated that the annual inflation rate, which stood at 32.61 percent in May, will fall to 32.17 percent in June.
The average of economists' inflation expectations at the end of the year was 29 percent.
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