December inflation expectation average is 3.19 percent

The Turkish Statistical Institute (TÜİK) will announce the December inflation data tomorrow at 10:00 AM.

According to TÜİK data, the Consumer Price Index (CPI) increased by 3.28 percent in November compared to the previous month, while consumer prices rose by 33.66 percent in the July-November period. Thus, the 6 percent raise granted to salaries for the 5-month period was exceeded, creating a situation where an inflation difference payment is required.

In accordance with the decision of the Public Officials Arbitration Board regarding the collective agreement that includes salary increases for civil servants and civil servant retirees for 2024-2025, a raise will be applied at the rate of the inflation difference in addition to the 15 percent determined for the first six months of 2024.

Civil servants, contract personnel, and civil servant retirees will receive their increased salaries and the inflation difference on January 15. SSK and Bağ-Kur retirees will also receive their salaries with an increase at the rate of the last 6 months of inflation for this year.

The lowest civil servant salary is expected to rise to 33,000 TL

With the projected increase, the lowest civil servant salary is expected to rise to 33,000 TL. The determined increase will also affect 65-plus, disability, and home care pensions.

December inflation expectation average is 3.19 percent

On the other hand, according to the December inflation expectation survey, the average inflation expectation for the month in question was 3.19 percent, and the annual inflation expectation was 65.19 percent.

News Source: 12punto