Istanbul Planning Agency announces: Cost of living in Istanbul is 61,523 TL

The Istanbul Planning Agency, a subsidiary of the Istanbul Metropolitan Municipality, has announced the average cost for a family of 4 to live in the city. Accordingly, the cost of living in Istanbul has increased by more than 83 percent in the last year, rising to 61,523 Turkish Liras.

The IPA, affiliated with the IMM, has released its Cost of Living in Istanbul-May 2024 report. According to the report, the cost of living in Istanbul increased by 3.69 percent compared to the previous month and by 83.61 percent compared to the previous year. In May, the average cost of living for a family of four in Istanbul rose by 2,189 TL compared to the previous month, reaching 61,523 TL.

'ONE IN EVERY 10 PEOPLE GOES TO BED HUNGRY'

IPA President Buğra Gökçe stated regarding the issue, "High inflation and the cost of living are making life difficult for the public, and poverty is deepening. For this reason, citizens are consuming fewer vegetables and fruits, and one in every 10 people living in Istanbul goes to bed hungry at night."

Reminding that the annual inflation in the country has reached its highest level since 1998 at 75.45 percent, Gökçe said that Turkey is the country experiencing the highest inflation after Argentina and Syria.

News Source: 12punto