Turkey's hunger threshold rises to 20,432 liras in October

The money a four-person family living in the Turkish capital of Ankara needs to cover a healthy, balanced diet rose to 20,432 liras ($596) in October, according to the monthly report by Türk-İş. Now, the hunger threshold exceeds the minimum wage by 3,430 liras.

Thursday October 31 2024 02:04 pm

Duvar English

Turkey’s hunger threshold, became 20,432 Turkish liras ($596) in October, according to the monthly report by the Confederation of Turkish Trade Unions (Türk-İş). The value indicates the minimum amount of money to be spent on food for a four-member family 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 expenses. The 12-month increase was recorded at 49.31 percent, while the annual average increase was 68.1 percent.

The monthly living cost for a single worker also rose to 26,527 lira ($774), standing far 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 like transportation and clothing to food costs onto the hunger threshold determines the poverty threshold.

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

Turkey’s Central Bank Governor Fatih Karahan stated during a meeting with investors at the annual meetings of the International Monetary Fund (IMF) and the World Bank in the U.S. that a 25 percent increase in the minimum wage would be consistent with "inflation targets."

A joint statement signed by 126 economists working in universities from Turkey and abroad on Oct. 27 emphasized the negative impacts that the government's planned increase in the minimum wage based on "expected inflation rate" would have on workers' lives.