What rate of increase will be applied to SSK and Bağ-Kur retirees in January?

SSK and Bağ-Kur retirees are eagerly awaiting the salary increase to be applied in the first month of 2024, with four different forecasts.

This raise, which will be determined based on the inflation rate, is expected to vary significantly according to economists' forecasts.

The Central Bank's 2024 inflation forecast is around 38 percent. If this forecast is realized, retirees are expected to receive a 10.64 percent raise in their salaries in January.

However, if the inflation rate rises to 42 percent, the raise rate could increase up to 13.84 percent.

According to the Central Bank's Survey of Market Participants, the year-end inflation expectation has been set at 43.31 percent, which would result in a 14.89 percent raise for retirees in January.

A Reuters poll projects year-end inflation to be at 42.95 percent, in which case the rate of increase is expected to be 14.60 percent.

According to the AA Finance survey, economists' forecasts point to a 14.52 percent increase.

The highest estimate comes from the Financial Institutions Association's survey. The year-end inflation forecast of 49.39 percent implies a 19.77 percent raise for SSK and Bağ-Kur retirees.

All eyes are now on the upcoming inflation data.

These forecasts from economists offer important clues regarding the amount of the upcoming raise for retirees.

The rate of the salary increase to be encountered in January will be determined based on the level of inflation.