Economist İnan Mutlu shared striking data regarding income distribution and the cost of living in Turkey. According to Mutlu's statistical analysis, the poorest segments are forced to allocate 72 percent of their income solely to housing and food expenses.
As of September, annual rent inflation was recorded at 70 percent, food inflation at 36 percent, and the price increase in bread at 42 percent. This high increase in basic necessity items is making the living conditions of low-income citizens more severe with each passing day.
Economist Mutlu criticized this situation in harsh terms, describing the ongoing process as an "economic genocide." According to Mutlu, income growth is lagging far behind the rise in prices, and this situation is systematically impoverishing the lower-income groups of society.
News Source: 12punto
