DİSK-AR reports: Inflation hits the poor again! Exactly double...

The Confederation of Progressive Trade Unions of Turkey Research Center (DİSK-AR), in a statement following the release of inflation data, noted, "TÜİK announced food inflation for the May 2024 period as 70.14%. However, this rate is far from reflecting the real inflation felt by the public," and announced that food inflation for the poorest 20% income group was 110.1%.

RETIREES ARE CRUSHED UNDER FOOD INFLATION

The statement also mentioned that despite the lawsuit filed by DİSK against TÜİK after the latter stopped publishing the item basket price list in June 2022, the item basket data is still not being published.

According to calculations made by DİSK-AR using TÜİK data, while official food inflation averaged 70.1%, food inflation for retirees was 86.1%.

While food inflation for the third 20% income group was 80%, food inflation for the second low-income 20% group was 91.7%, and food inflation for the poorest 20% income group was 110.1%.

"THE WEALTHY FEEL INFLATION LESS"

In the research, which included the statement "It is observed that high-income groups feel lower food inflation," the following was recorded:

"While food inflation for the fourth (high) 20% income group was 67.1%, food inflation for the highest income group was 51.1%.

Thus, while food inflation for the poorest income group was 110%, food inflation for the highest income group remained at 51%. This situation reveals that inflation is felt significantly differently according to income groups and different social segments and classes."

In the statement, which said "CPI and food price indices continue to rise," the following was recorded:

The CPI index, which was 117 in May 2005, rose to 2,282 in May 2024.

The food price index, which was 112 in May 2005, rose to 3,292 in May 2024.

The annual inflation rate, which was 8.7% in May 2005, was 75.5% in May 2024.

Annual food inflation, which was 4% in 2005, rose to 69% in May 2024.

On the other hand, the gap between food inflation and general inflation has begun to widen in recent years.

The food price index, which followed the same trend as the CPI in May 2005, rose 1,010 points above the CPI in May 2024.

WHAT HAPPENED?

The Turkish Statistical Institute (TÜİK) announced the inflation figures for May. Accordingly, the Consumer Price Index (CPI) for May 2024 increased by 75.45% annually and 3.37% monthly. Monthly food inflation was calculated at 1.69%, and annual food inflation at 70.14%.

News Source: 12punto