Ministry of Trade Warns Against Turning Minimum Wage Increases into Price Hikes

Forex - The Ministry of Trade has warned those who attempt to translate the minimum wage increase rate into price increase rates with great greed, stating that they will face severe penalties.

In a statement made by the Ministry of Trade, it was said: "The minimum wage for the year 2025 has been determined and announced by the Minimum Wage Determination Commission yesterday, with a projected increase of 30%, resulting in a net wage of 22,104 TL for 2025. We wish that this minimum wage is beneficial for all our employees and our country.

In this context, we want to warn again the sellers of goods and services who will try to increase prices at the same rate as the minimum wage increase, as if all costs were labor costs.

Firstly, the minimum wage will be paid at the end of January 2025. Secondly, labor costs constitute only a portion of the total costs.

Therefore, we caution those who attempt to translate the minimum wage increase rate into price increase rates with great greed.

The Ministry of Trade, along with the inspection teams from the Ministry of Agriculture and Forestry, Provincial Trade Directorates, Provincial Agriculture Directorates, and District Agriculture Directorates, are working together in the field for strict inspections. Additionally, teams from the General Directorate of Internal Trade and the General Directorate of Consumer Protection and Market Surveillance, under the Ministry of Trade, are also conducting intensive inspection activities in the field.

We kindly urge our citizens to report any complaints regarding greedy and unscrupulous businesses to our Ministry of Trade.

At the beginning of 2025, the rate of re-evaluation of 43.93% will be applied with increased penalty amounts for all inspection fines. Excessive pricing practices aimed at victimizing our citizens and consumers will be severely punished based on the new penalty amounts."