Cost of living for wage earners in Istanbul rises 3% in November

The wage earners’ cost-of-living index, which tracks changes in retail prices in Istanbul, increased by 3.07% in November compared to October, while wholesale prices rose by 2.68%, according to data released by the Istanbul Chamber of Commerce on Dec 1.

Year-on-year, the Wage Earners Living Index, which is based on 1995 values, showed an increase of 57.99%, while the Wholesale Goods Index rose by 42.72%.

Highest price increases in clothing, housing expenses

In November, retail prices saw the highest monthly increases in clothing expenses (5.65%) and housing costs (5.25%).

Food prices also rose by 3.28%, while household goods increased by 1.54%.

Health and personal care expenses grew by 1.08%, and miscellaneous expenses by 0.15%. Conversely, transportation and communication expenses fell by 0.81%, and culture, education, and entertainment expenses decreased by 1.27%.

Wholesale prices in November experienced significant increases in unprocessed materials (8.08%) and construction materials (5.44%), with food items rising by 2.41% and minerals by 1.01%.

The cost of fuel and energy increased by 0.55%, while prices for chemicals dropped by 7.57%. No changes were recorded in textile prices.