Warning from the Ministry of Trade on exorbitant prices: Penalties will increase
The Ministry of Trade has warned businesses against taking advantage of the 30 percent increase announced for the 2025 minimum wage to implement exorbitant price hikes. The Ministry announced that inspections have been tightened, noting that such price increases will be penalized in the strictest manner.
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The minimum wage valid for 2025 was announced as 22 thousand 104 liras by the Minister of Labor and Social Security, Vedat Işıkhan. Following the announcement of the minimum wage increase rate, there is an expectation of price hikes in almost every category, from food to housing and essential supplies.
The Ministry of Trade warned those who want to implement exorbitant prices by turning the announcement of the minimum wage increase rate into an opportunity. In the statement made by the Ministry, it was stated, "They will be penalized in the harshest manner."
The statement included the following: "We warn those who want to turn the minimum wage increase rate into a price increase rate with great greed. Exorbitant pricing practices aimed at victimizing our citizens and consumers will be penalized in the harshest manner based on the new penalty amounts."
'WE WARN THOSE WHO WANT TO INCREASE PRICES AT THE SAME RATE AS THE MINIMUM WAGE INCREASE'
In the written statement made by the Ministry, it was said: "We would like to warn once again those sellers of goods and services who will try to increase prices at the same rate as the minimum wage increase, as if all costs were labor costs.
First of all, the minimum wage will be paid at the end of January 2025. Secondly, labor costs only constitute a portion of the total cost. For this reason, we warn those who want to turn the minimum wage increase rate into a price increase rate with great greed."
It was stated that inspection teams from the Ministry of Trade and the Ministry of Agriculture and Forestry are working together in the field, and that: "Provincial Directorates of Trade, Provincial Directorates of Agriculture, and District Directorates of Agriculture teams are working together in the field for strict inspections. In addition, teams from the General Directorate of Internal Trade and the General Directorate of Consumer Protection and Market Surveillance affiliated with the Ministry of Trade are also conducting intensive inspection work in the field.
We specifically request that our citizens report any complaints they may have regarding businesses that are greedy or avaricious to our Ministry of Trade. At the beginning of 2025, all inspection penalties will be increased and applied at the revaluation rate of 43.93 percent.
In this regard, exorbitant pricing practices aimed at victimizing our citizens and consumers will be penalized in the harshest manner based on the new penalty amounts."