Turkey, Erdogan tries to tame record inflation by increasing the minimum wage by 55%.

Turkey today announced a 55% increase in the minimum wage starting next year, with the aim of tackling the cost of living and the crisis it has unleashed in the country. This is highlighted by an analysis by CNBC.

In particular, Turkish inflation shot up to a 24-year high, reaching a peak of 84.4%. And so, to help families and businesses overcome this difficult situation, Erdogan has announced that from 2023 the minimum wage will be raised to $455.