Even 3 minimum wages are not enough to 'live' in Istanbul: IPA report published
The average cost of living for a family of four in Istanbul rose to 53 thousand 58 liras in January, an increase of 80.29 percent compared to the same month of the previous year and 7.93 percent compared to the previous month. It was also observed that the cost of living is even higher than 3 minimum wages.
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According to research by the Istanbul Planning Agency (IPA), affiliated with the Istanbul Metropolitan Municipality (IBB), the cost of living in Istanbul increased by 80.29 percent in January 2024 compared to the same month last year.
The average cost of living for a family of four in Istanbul was calculated as 53 thousand 58 liras in January.
Even 51 thousand 6 liras, which corresponds to three net minimum wages, is not enough to cover this cost.
The cost of living in Istanbul increased by 7.93 percent compared to the previous month. The average cost of living in Istanbul increased by 3 thousand 899 liras in January compared to the previous month.