Millions of civil servants and pensioners are following the increase rates for the salary increase in July. The Central Bank’s inflation forecast changed with the survey published today. The monthly inflation expectation for May was revised upwards. However, the annual inflation forecast decreased. The final 2-month inflation data is expected for the raise rate of civil servants and pensioners. So, how much will the salary of civil servants and pensioners be?
The eyes of millions of civil servants and pensioners turned to the salary increase rates. On the one hand, while on the agenda whether pensioners will be given a welfare share, the Central Bank of the Republic of Turkey published the Market Participants Survey for May.
Accordingly, the CPI increase expectation for May, which was 3 percent last month, increased to 3.04 percent in this survey period. The current year-end CPI increase expectation decreased from 44.16 percent to 43.64 percent. CPI inflation expectation for the next 12 months decreased from 35.17 percent to 33.21 percent and for the next 24 months from 22.05 percent to 21.33 percent.
In April, inflation was 3.18 percent and the four-month inflation difference was 18.72 percent. The focus was on May and June inflation data for the raise rate of civil servants and retirees.
How much will civil servants and pensioners get a raise in July?
According to NTV’s news, based on the estimates in the expectation survey, inflation will be 3.04 percent in May and 2.56 percent in June. According to these data, 6-month inflation will approach 25 percent.
How much will the lowest pension be?
In January, the salaries of all pensioners whose root salary was below 10 thousand liras were equalized at 10 thousand liras. If this practice continues, the lowest pension will be 12,500 lira.
Civil servants and civil servant retirees received a 15 percent raise with the collective agreement for the first six months of the year. Civil servants and civil servant retirees have the right to a 10 percent raise for the second six months arising from the collective agreement.
How many TL will the lowest civil servant pension be?
If the estimates in the inflation survey are realized, the inflation difference of civil servants will reach 9.1 percent. As a result of the calculations made, the increase that civil servants and civil servant retirees will receive in July will be 20 percent. According to the increase rate, the lowest pension will exceed 39 thousand liras. The lowest civil servant pension will exceed 16 thousand liras.
