Poverty line exceeds 25,000 lira

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The Confederation of Turkish Trade Unions (TÜRK-İŞ) published the results of its monthly "Hunger and Poverty Survey". Their research indicates that for the month of November:

The starvation line, the absolute minimum amount of food expenditure necessary for a family of four to have a healthy, balanced, and adequate diet, is estimated at 7,786 lira (403 Euro) per month

The poverty line, which includes food and other mandatory monthly expenditures for clothing, housing (rent, electricity, water, fuel), transportation, education, and health needs, is projected at 25,365 lira (1313 Euro) for a family of four.

The "cost of living" for a single person is assessed at 10,171 lira (526 Euro) per month.

Currently, the minimum wage in Türkiye stands at 5,500 lira (284 Euro), meaning a single person working for the minimum wage must find another 4,671 lira (241 Euro) to make a living. The minimum food expenditure for a family of 4 living in Ankara increased by 4.87 percent compared to the previous month. The rate rose by 137 percent in the past 12 months.

In the month of November, a majority of food prices increased, such as meat, dairy products, and spices. Sunflower oil, pasta, and red lentils saw a price drop. Black olives and potatoes saw the most significant price hikes, with 31 and 25 percent.

Last month, Türkiye's official inflation rate surpassed 85 percent, and an independent group of economists indicates that the inflation rate is likely over 185 percent. Despite high inflation, the central bank of Türkiye, fueled by President Erdoğan's unusual interest rate theory, pushed through, as recently as November 24, interest rate cuts, contradictory to orthodox economic thought. (HA/WM/VK)