The cost of living in Istanbul has reached alarming levels

The cost of living in the megacity of Istanbul, where millions of citizens reside and where it is becoming increasingly difficult to survive due to the poor state of the economy, has been revealed by research results.

The Istanbul Planning Agency (IPA) has announced the results of its research on the cost of living in Istanbul. According to the IPA's research, the cost of living in the megacity has increased by 81 percent compared to the same month last year.

The average cost of living for a family of four in Istanbul was calculated at 55,321 liras.

INCREASED BY 4 PERCENT

The cost of living in Istanbul increased by 4.26 percent compared to the previous month.

MONTHLY CHANGE RATE BY YEAR

January 2023 6.64%

February 2023 3.86%

March 2023 4.01%

April 2023 3.10%

May 2023 2.24%

June 2023 5.59%

July 2023 9.75%

August 2023 9.69%

September 2023 4.62%

October 2023 3.13%

November 2023 3.35%

December 2023 3.51%

January 2024 7.93%

February 2024 4.26%

INCREASE IN RED MEAT PRICES

When looking at the price increases of basic consumer goods compared to February of the previous year, it was observed that one of the most striking price increases occurred in meat and ground meat product prices with an increase rate of 114.27 percent.

News Source: 12punto