All eyes on May 4: Pension and civil servant salary raise scenario emerges!

In the critical process regarding the salary increases that retirees and civil servants in Turkey will receive in July, all eyes have turned to the April inflation data. The data to be announced on Monday, May 4, will be decisive in determining the 4-month raise rate.

ECONOMISTS' APRIL EXPECTATIONS

Prior to the data to be published by the Turkish Statistical Institute (TÜİK), the AA Finance expectation survey has concluded. Economists participating in the survey estimated that April inflation would be an average of 3.19 percent on a monthly basis. Expectations ranged between 2.50 percent and 3.60 percent.

THE PICTURE FOR THE FIRST THREE MONTHS

Inflation data announced in the first quarter of the year was recorded as 4.84 percent in January, 2.96 percent in February, and 1.94 percent in March. With this data, the three-month cumulative increase rate for SSK and BAĞ-KUR retirees reached 10.04 percent. During the same period, no inflation difference has yet formed for civil servants.

4-MONTH RAISE SCENARIO

If April inflation occurs in line with expectations, the total four-month increase rate will rise further. In this case, the raise rate for SSK and BAĞ-KUR retirees is expected to reach 13.54 percent, while the increase for civil servants and civil servant retirees is expected to be at the 9.45 percent level.

The exact raise rates will become clear with the official inflation data to be announced on May 4.

News Source: 12punto