According to Turkey's Labor Minister, the minimum wage will increase by 34% to 11,402 lira ($483) starting July 1. The decision will allow more than a third of workers to earn a decent minimum wage. However, such an increase could also contribute to inflation in the country. According to the latest data, the rate of consumer price growth in Turkey slowed to an annualized rate of 39.6 percent in May, the lowest since December 2021.
Turkey's previous increase in the minimum wage took place last December, when it was increased by 55%.