✔ You know, when it is said that “the one who has no explanation has humor”, it is no longer possible to approach this inflation that has no explanation.
✔ “The declared inflation rate was highly welcomed by the authorities, and the citizens strongly opposed these rates.
The Turkish Statistical Institute, in short, TURKSTAT, announced the realization of price indices in August yesterday to the public.
According to the information given, last month the consumer price index, namely CPI, increased by 1.46 percent, and the domestic producer prices index, namely D-PPI, increased by 2.41 percent.
These announced rates have created much satisfaction in the government wing.
Citizens, on the other hand, met the CPI increase, which is closely related to them and taken into account in wage and salary increases, with sarcastic expressions and stated that this rate is far from reflecting the real price increase.
Even though some citizens expressed their anger on this issue, this situation was not taken into account neither by the Statistical Institute officials who announced the price indices, nor by the government officials.
★★★
If we had written the August data announced by TURKSTAT yesterday, years ago, we would probably have written it in a similar language. The title would not be what it was, but that such a statement was made.
In fact, such a title is not wrong at all for today. Although it is clear when TÜİK will make this statement, it has been scheduled months ago and it seems more correct to highlight the fact that the statement was made when the content of the statement was empty.
Emptied institutions…
In fact, almost all public institutions seem to have entered into military discipline!
The soldier does as he is ordered. Whatever the superior has ordered, the subordinate cannot be in a position to question it. Even if he gives an order whose top results will be false, it will be fulfilled.
But military approaches have no place in the economy. Or rather, it shouldn’t be.
The interests of the country often do not coincide with the will of the politician.
If the politician wants to be involved in the economic units on a technical issue, it is said that at least what is asked is wrong, let’s say it softly, it is not right. It must be done! It was done in the past!
But now!
Look at the Central Bank, the most important institution of the economy!
Look at the Turkish Statistical Institute, which produces the most relevant data for citizens!
The Central Bank does it, by doing the opposite of the texts it wrote for a period. interest downloading. What the Central Bank was saying before September of last year:
“The policy rate will not be set below inflation.”
What happened, was this view wrong or is it wrong now?
How are you a banker if you have held the wrong view for a long time?
Or if you’re doing it wrong now, has your view changed, or have you had to change your view?
And TURKSTAT… You stopped explaining the prices of the items you took into account in the inflation calculation, when there was already a serious distrust towards the institution. What is it, sir? These prices are misinterpreted! Who misinterpreted what? And if you’re so worried about the public’s misinterpretation, and there’s nothing wrong with it, you would inform the media and academic circles somehow. But what did you do “No, let’s not do that, let’s ban it” you said.
Now you hold and explain a ratio.
TurkStat should know this well. The declared inflation rate may be 100 percent accurate. Yes, 100 percent, a perfect measurement.
But this should be well known…
The rate of disbelief in this rate is almost 100 percent!
Once trust is lost, it cannot be easily replaced again. In certain cases, it may not be placed at all.
These rates need no comment
Of course, the day will come when it will be necessary to make various evaluations on these official rates. I’ll do it too, because I don’t have any other data.
But believe me, I don’t feel like scrutinizing these rates today.
I experience the same situation when I look at the text of the statement made after the Central Bank Monetary Policy Committee meetings. What would you comment?
What part of the ratios in the statement made by TUIK yesterday, what will you examine?
A statement has to be made on the 3rd of every month and that statement is made. Now that’s all it is! The explanation will be made, do it!
Millions of employees and retirees in Turkey receive a raise or an inflation difference, considering these rates as correct.
Even if these ratios are correct, there is a serious real loss. Considering that these rates do not reflect the truth…
LDO IS NOW 118.9 PERCENT
The revaluation rate will be 118.9 percent even if the D-PPI does not change in September and October.
The revaluation rate, which is automatically formed according to the annual average increase of D-PPI at the end of October, will be finalized with the price increases in September and October. Even assuming that the prices will not change in these two months, it is expected to reach 118.9 percent, and it is expected to reach 125 percent.
The YDO to be formed will form the basis for the determination of a series of taxes, income tax brackets, penalties and fees in 2023.