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DISK-AR: Inflation has eroded the floor price!

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DİSK-AR has published the Base Price Report. In the report, in which the analysis proposals were also presented, it was emphasized that the inflation eroded the base price and the 5-month loss was 5 thousand liras.

ANKARA (IGFA) – A new report published by the Research Unit of the Revolutionary Workers’ Unions Confederation (DİSK-AR) calculating food inflation for minimum wage earners has been published.

According to the report, it was determined that in May 2022, food inflation for low-income and low-income groups (minimum wage earners) was much higher than the average food inflation, while in low-income groups (around the minimum price) and retirees, food inflation was in the middle of 117-135%.

It was emphasized that the net minimum price, which was determined as 4,253 TL with an increase of 50.5 percent in December 2021, will rapidly dissolve in the face of inflation in 2022.

The main findings in the report; In the first 5 months of 2022, it was pointed out that the purchasing power loss of the base wage exceeded 5 thousand TL, if the minimum price was not increased in July, the total loss would exceed 20 thousand lira in 2022 and the ratio of the base price to the national income decreased.

According to the solution proposals, it was emphasized that it would be appropriate to determine the minimum price 4 times a year during the high inflation period and that the base price should be determined every 3 months until the inflation drops below 10 percent. While it was stated that the minimum price should be determined again in July and October in 2022, “The minimum price should not be official inflation, but the per capita gross domestic product (GDP) increase (growth) and the end of poverty. The “A calculation technique is required that will enable him to take a share in the productivity. Not only the worker himself, but also his family should be taken into account in determining the minimum price.”

You can click here to access the DİSK-AR Base Price Report.

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