The average cost of living for a family of four in megacity Istanbul reached above 53,000 liras ($1729) in January, increasing by an average of 80.29% in the last year, the Istanbul Municipality Planning Agency (İPA) said.
Opposition-run Istanbul Municipality’s Planning Agency (İPA) has revealed data showing that the cost of living in Istanbul, Turkiye’s largest city, has increased by an average of 80.29% in the last year.
Accordingly, the average cost of living for a family of four in the megacity reached 53,058 liras ($1729) in January, about three times higher than the minimum wage (17,002 liras), the agency reported on Oct. 3.
According to its calculations, the inflation rate jumped 7.93% month on month in January alongside wage hikes.
One of the most striking price changes in January compared to December was seen in the child t-shirt category with an increase of 39.90%,followed by bean and pasta with increases of 11.72% and 11.51% respectively.
Turkiye’s official statistical authority, the Turkish Statistical Institute (TÜİK), reported the annual inflation rate as 64.86 percent in January while the independent inflation group ENAG put the figure at 129.11 percent.
Source: duvarenglish