Turkey’s Hunger Pangs Deepen: Monthly Threshold Skyrockets to 20,432 Liras in October

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Turkey’s hunger threshold became 20,432 Turkish liras ($596) in October, according to the monthly report by the Turkish Trade Union Confederation (Türk-İş). The value indicates the minimum amount of money to spend on food for a family of four living in the capital Ankara to maintain a healthy, balanced and adequate diet.

According to the survey, a family of four living in Ankara saw a monthly increase of 3.03 percent in food costs. The 12 month increase was recorded at 49.31 per cent, while the annual average increase was 68.1 per cent.

The monthly cost of living for a single worker also rose to 26,527 liras ($774), which stands well above the minimum wage of 17,002 liras ($492).

The total monthly cost for essential expenses, including food, clothing, rent, electricity, water, fuel, transportation, education, health, and similar needs was measured at 66,553 lira ($1,943). Adding essential expenses such as transport and clothing to food costs at the starvation threshold determines the poverty threshold.

Turkey’s official statistics institute, TÜİK, reported a monthly inflation rate of 2.97 percent in September, with the annual inflation rate falling to 49.38 percent. However, independent research group ENAG calculated a higher monthly inflation rate of 5.34 per cent, with a 12-month increase of 88.63 per cent.

The Governor of the Central Bank of Turkey, Fatih Karahan, said during a meeting with investors at the annual meetings of the International Monetary Fund (IMF) and the World Bank in the United States that a 25 percent increase in the minimum wage would be consistent with “inflation targets. ”

A joint statement signed by 126 economists working in Turkish and foreign universities on October 27 emphasized the negative effects that the government’s proposed increase in the minimum wage based on “expected inflation rate” would have on lives employees.