Erdoğan raises Turkey’s minimum wage for second time in six months

Turkey announced its second increase in the minimum wage in six months, raising pay by 30 per cent in a bid to cushion households from soaring living costs.

The increase, which comes after the official annual rate of inflation reached a 23-year high of 74 per cent in May, lifts the take-home pay earned by around 40 per cent of the workforce from TL4,250 to TL5,500 ($254 to $328). 

But a 20 per cent plunge in the lira since the start of…