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The Turkish Statistical Institute (TÜİK), which has drawn public criticism over the data it releases, has announced the inflation figures for September.
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According to TUIK, inflation increased by 2.97 percent on a monthly basis in September. Annual inflation, meanwhile, fell from 51.97 percent to 49.38 percent.
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With the announcement of inflation figures, eyes have turned to the 3-month inflation difference, which is a determining factor for salary increases for civil servants and pensions for retirees.
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According to data shared by the Turkish Statistical Institute (TÜİK), inflation for the month of August was announced at 2.47 percent.
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Accordingly, monthly inflation was announced as 3.32 percent for July, 2.47 percent for August, and 2.97 percent for September.
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The 3-month inflation adjustment for SSK and Bağ-Kur retirees currently stands at 8.92 percent. For civil servants to receive an inflation adjustment, an additional 0.99 percent inflation must occur.
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Since this raise will be reflected in the salaries in January 2025, it will be calculated cumulatively based on the monthly inflation rate announced each month.
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According to the collective bargaining agreement, civil servants and civil servant retirees will receive their first salary increase of 2025 in January.
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As of the end of September, this rate is 8.92 percent.
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The net rate will be determined once the official inflation data for October, November, and December are released.
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News Source : 12punto