Reference Value Report: Living Income and 2024 Update for Rural Turkey
This report updates the Anker Living Income Reference Value for rural Türkiye to June 2024. The Living Income was TRY 3,551 (USD 507) in the original report for 2020.3 The updated Anker Living Income for 2024 is TRY 17,679 (USD 542). This update takes into account the accumulated inflation from June 2020 to June 2024. Consumer price index inflation in this period was 397.9%.4 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 2024, because the purchasing power of the living income would have decreased.
2024 Reference Value Update Report: Living Income Report for Rural Turkey
Abstract
This report updates the Anker Living Income Reference Value for rural Türkiye to June 2024. The Living Income was TRY 3,551 (USD 507) in the original report for 2020.3 The updated Anker Living Income for 2024 is TRY 17,679 (USD 542). This update takes into account the accumulated inflation from June 2020 to June 2024. Consumer price index inflation in this period was 397.9%. 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 2024, because the purchasing power of the living income would have decreased.
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Original Report
2020 Reference Value Report: Living Income Report for Rural Turkey
Abstract
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. 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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