Update Report: Living Income Reference Value Update 2023 for Rural Turkey

RV Income Update
Written By Anker Research

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Anker Reference Value Update Report 2023

This report updates the Anker Living Income Reference Value for rural Türkiye to June 2023. This value was TRY 3,551 (USD 507) in the original study for 2020. These updates take into account the accumulated inflation from June 2020 to June 2023. Accumulated inflation in this period is estimated to be 190.14%. The updated value of the Anker Living income Reference Value for rural Türkiye is 10,303 (USD 457). Without accounting for inflation, the living income for 2020 would not be sufficient for families to have a basic but decent standard of living in 2023, because the purchasing power of the living income would have decreased.

 

This report is an update to the original Living Wage Reference Value report written in 2020

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Reference Value Report: Living Income Report for 2020 Rural Turkey
Reference Value Report: Living Income Report for 2020 Rural Turkey

The Anker Living Income Reference Value for 2020 for rural Turkey is TRY 3,551 (US507) per month with a 95% confidence around it from TRY 3,147(US$450) to TRY 4,008 (US$503). This is the income required by a rural family to be able to afford a basic but decent living standard in a typical rural area of Turkey.3 The Living Income may be defined as: “Remuneration received for a standard month by a family in a particular place sufficient to afford a decent standard of living. Elements of a decent standard of living include food, water, housing, education, health care, transportation, clothing, and other essential needs including provision for unexpected events.” (Global Living Wage Coalition).

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Update Report: Living Wage Reference Value Update 2023 for Urban Turkey