In July, 6-month inflation was 24.73 percent, while SSK and Bağ-Kur retirees received an inflation increase of this rate. Civil servants and civil servant retirees received an increase of 19.31 percent with the collective agreement increase. The previous day, the Central Bank announced the third inflation report of the year.
The report maintained the 2024 year-end inflation forecast, which was previously projected as 38 percent. The upper band of the inflation forecast was announced as 42 percent. Central Bank Governor Fatih Karahan did not change his forecast, saying they expected a decrease in inflation.
As a result of these year-end estimates, the raise rates that retirees and civil servants can receive can also be calculated. The change in the index according to the 38 percent and 42 percent rates determined for the end of the year also gives the 6-month inflation rates.
Accordingly, if the Central Bank’s 38 percent estimate comes true at the end of the year, civil servants and civil servant retirees will receive a very small amount of the inflation difference.
