Turkish President Recep Tayyip Erdogan on Thursday announced the third major minimum wage hike in a year to try and cushion the impact of a historic jump in consumer prices ahead of crunch elections. More than 40 percent of Turkey’s workforce earns the lowest income allowed by law. Erdogan relied on support from the working classes to rise to power nearly two decades ago – and will need it again to secure re-election in polls which are due by next June. But Turkey’s poor have been hit the hardest by an economic crisis that has seen the official annual inflation rate reach 85 percent. BREAKING:…