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The organization for the defense of pensioners recalls that “the MNB’s December 2020 inflation report was recently published, in which the expected rise in consumer prices for the future was professionally calculated.” According to them, central bank experts forecast a higher rate of money deterioration in 2021.
The organization believes:
the planning company is seriously affected by the planning error,
given that the projected 3 percent increase in pensions on January 1 will not keep pace with the price increase projected by the MNB from 3.8 to 4 percent, nor will it offset the difficulties in the living conditions of the elders. The proposed 3 percent increase in pension benefits is particularly behind the expected 4.6 to 4.8 percent increase in food prices, “they note.
It should be noted here that the MNB forecast an annual inflation rate of 3.5-3.6% for 2021 in its December inflation report.
Therefore, the association asks the government to set the pension increase on January 1, 2021 at 4% instead of the expected rate of 3%.
“We do not consider it fair that in the absence of a correction at the beginning of the year, retirees will once again be forced to lend to the government,” they wrote.
A memorable situation was similar in 2020: with the increase in pensions registered in January, real inflation increased, so pensioners were compensated in November.
Cover Image Source: Getty Images
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