Cost of living for a family of four exceeds 44,000 liras in Istanbul

The average cost of living for a family of four in megacity Istanbul reached above 44,561 liras in September, the Istanbul Municipality Planning Agency (İPA) said.

Tuesday October 03 2023 08:57 pm

Duvar English

Opposition-run Istanbul Municipality’s Planning Agency (İPA) has revealed data that shows that the cost of living in Istanbul, Turkey’s largest city, has increased by an average of 79.42% in the last year.

İstanbul’da Yaşam Maliyeti Dört Kişilik Bir Aile için Aylık 44.561 Lira Oldu!

İstanbul'da yaşam maliyeti geçen yılın aynı ayına göre %79,4 arttı. İstanbul'da dört kişilik bir ailenin ortalama yaşam maliyeti 44.561 lira olarak hesaplandı. İstanbul’da yaşam maliyeti sadece son bir… pic.twitter.com/onIlGauGR2
— İstanbul Planlama Ajansı (@ipaistanbul) October 3, 2023

Accordingly, the average cost of living for a family of four in the megacity reached above 44,561 liras in September, about four times higher than the minimum wage (11,402 liras), the agency reported on Oct. 3.

According to its calculations, the inflation rate jumped 4.62% month on month in September.

These figures refute claims by the state-run Turkish Statistical Institute (TÜİK) that inflation stands at 61.53%.

One of the most striking price changes in September compared to August was seen in hair care products with an increase of 26.77%.

The government-run TÜİK reported an annual inflation rate of 61.53% in September, whereas the independent inflation group ENAG put the figure at 130.13%.