Cost of living for a family of 4 in Istanbul exceeds 106 thousand TL
The Istanbul Barometer research by the IPA has revealed that the cost of living in Istanbul continues to rise. November data shows that the sharp increase in education and housing expenses, in particular, is increasing the pressure on household budgets, while figures announced by TURKSTAT and TURK-IS also reveal that living conditions are becoming increasingly difficult.
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The November results of the Istanbul Barometer, published by the Istanbul Planning Agency (IPA), showed that the rise in living expenses in the megacity continues. According to the research, the average monthly cost of living for a family of four in Istanbul increased by 1.06 percent in November compared to the previous month, reaching 106 thousand 34 TL. The previous month, this amount was calculated as 104 thousand 927 TL.
EDUCATION AND HOUSING EXPENSES AT THE PEAK
When annual data is examined, it is seen that the most striking increase among expenditure items occurred in education and housing expenses. While the annual increase rate in education expenditures reached up to 100.7 percent, the rise in housing expenses was recorded as 60.4 percent. These two items stood out as the main elements of the pressure on household budgets.
INFLATION DATA CONFIRMED THE INCREASE
The inflation data for November from the Turkish Statistical Institute (TURKSTAT) also revealed that the rise in prices continues. While the CPI increased by 0.87 percent on a monthly basis in November, annual inflation was announced as 31.07 percent.
HUNGER THRESHOLD EXCEEDS 29 THOUSAND, POVERTY THRESHOLD EXCEEDS 97 THOUSAND
The latest research published by TURK-IS revealed the difficulty in living conditions. Accordingly, the monthly food expenditure required for a family of four living in Ankara to have a healthy, balanced, and sufficient diet alone rose to 29 thousand 828 TL. The poverty threshold, calculated by including mandatory expenses such as clothing, housing, transportation, education, and health in addition to food expenditures, became 97 thousand 159 TL.