Cost of living for a family of 4 nears 4 minimum wages! Istanbul residents are going to bed hungry...

IPA has published its Cost of Living in Istanbul - May 2024 report. 

According to the report, the cost of living in the city 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 increased by 2,189 liras compared to the previous month, reaching 61,523 liras. According to the report, the price of lentils, which is seen as one of the most striking price increases, rose by 116.54 percent compared to the same month of the previous year.

GÖKCE: "ONE IN EVERY 10 PEOPLE..."

IPA President Buğra Gökçe, recalling that inflation is 75.45 percent according to TUIK, 120.66 percent according to ENAG, and 82.2 percent according to ITO, said, "High inflation and the cost of living are making life difficult for the public, and poverty is deepening. That is why our citizens are consuming fewer vegetables and fruits; unfortunately, one in every 10 people living in Istanbul goes to bed hungry at night" said. 

Stating that annual inflation has reached its highest level since 1998 at 75.45 percent, Gökçe emphasized that Turkey is the 3rd country in the world with the highest inflation rate, following Argentina and Syria.

?? In May, the average cost of living for a family of four in Istanbul was 61,523 liras.

?? In May of the previous year, the average cost of living for a family of 4 was 33,507 liras.

To access the full report ?? https://t.co/jJCZlMP5xr

— Dr. Buğra Gökce (@gokcebugra) June 4, 2024

News Source: 12punto