Turkey's Rising Costs: Minimum Wage Far Below Poverty Threshold
Turkey's economic struggles are evident in its rising living spaces costs, with the 'poverty threshold' for essential expenses now at ₺91,109 ($2,474). The Turkish Riviera region, including Antalya, Side, and Alanya, faces the highest price increases for food and the highest cost of living, driven by a 42% rise in hotel prices and generally higher food costs around 18 euros per person. Meanwhile, the minimum wage falls significantly short of these thresholds.
The 'poverty threshold' for a family of four, known as the 'hunger threshold', stands at ₺27,970 ($672.64) in September. However, the minimum wage is 75.8% below the 'poverty threshold' and 21% below the 'hunger threshold'. This means that even with the minimum wage, many families struggle to meet basic needs.
Food inflation continues to rise, with monthly food inflation at 3.17% in September and an annual increase of 41.05%. Egg prices have seen a significant increase, rising by 14% in September and a total of 26% over the past two months. Lamb and chicken prices have also risen, by 6% and 12% respectively in September, following a 20% increase in chicken prices over the previous two months. The 'living cost' for a single worker is now at ₺36,305 ($873.17), which the minimum wage falls 39.31% short of.
The rising costco stock of living, particularly in the Turkish Riviera region, coupled with the significant gap between the minimum wage and the 'poverty threshold', 'hunger threshold', and 'living cost' for a single worker, highlights the economic challenges faced by many in Turkey. These increases in food and living costs are expected to continue to impact the daily lives of Turkish citizens.
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