Istanbul’s cost of living surpasses monthly inflation in November
File photo shows the Grand Bazaar, in Istanbul, Türkiye. (AA Photo)
The Istanbul Planning Agency reported November’s cost-of-living statistics for Türkiye’s most populated city on Thursday, showing an increase of 2.68%, surpassing the monthly inflation rate of 2.24%.
According to data, the cost of living for a family of four reached₺75,514 ($2,165), equivalent to approximately 4.5 times the minimum wage of₺17,002 in Istanbul. In January, the cost of living for a similar family was ₺53,000, which then equaled three minimum wages.
Monthly increases recorded over the past six months were 3.25%, 4.76%, 3.58%, 3.62%, and 3.23%, respectively, marking November’s rise as the lowest in half a year. This year’s cost of living increases have followed.
| Year | Month | Monthly change rate (%) |
| 2023 | January | 6.64% |
| 2023 | February | 3.86% |
| 2023 | March | 4.01% |
| 2023 | April | 3.10% |
| 2023 | May | 2.24% |
| 2023 | June | 5.59% |
| 2023 | July | 9.75% |
| 2023 | August | 9.69% |
| 2023 | September | 4.62% |
| 2023 | October | 3.13% |
| 2023 | November | 3.35% |
| 2023 | December | 3.51% |
| 2024 | January | 7.93% |
| 2024 | February | 4.26% |
| 2024 | March | 4.07% |
| 2024 | April | 3.06% |
| 2024 | May | 3.69% |
| 2024 | June | 3.25% |
| 2024 | July | 4.76% |
| 2024 | August | 3.58% |
| 2024 | September | 3.62% |
| 2024 | October | 3.23% |
| 2024 | November | 2.68% |
On an annual basis, the cost of living has risen by 59.43%. Compared to the same month last year, this significant increase highlights the mounting financial pressure on residents.
| Year | Month | Annual change rate (%) |
| 2023 | January | 102.82% |
| 2023 | February | 98.97% |
| 2023 | March | 86.14% |
| 2023 | April | 77.05% |
| 2023 | May | 67.95% |
| 2023 | June | 63.86% |
| 2023 | July | 73.24% |
| 2023 | August | 80.59% |
| 2023 | September | 79.42% |
| 2023 | October | 76.69% |
| 2023 | November | 78.48% |
| 2023 | December | 78.13% |
| 2024 | January | 80.29% |
| 2024 | February | 81.00% |
| 2024 | March | 81.12% |
| 2024 | April | 81.05% |
| 2024 | May | 83.61% |
| 2024 | June | 79.55% |
| 2024 | July | 71.40% |
| 2024 | August | 61.84% |
| 2024 | September | 60.30% |
| 2024 | October | 60.46% |
| 2024 | November | 59.43% |
Among basic consumer goods, meat products stood out with one of the sharpest annual price hikes, soaring by 72.37% over the past year.
| Product | Annual change | Monthly change |
| Bulgur wheat | 37.61% | -0.53% |
| Pasta | 45.54% | 3.80% |
| Noodle | 45.21% | 5.48% |
| Meat-Minced Meat | 72.37% | 4.06% |
| Chicken | 53.51% | 0.82% |
| Sunflower Oil | 67.29% | 4.96% |
| Chickpeas | 50.26% | 3.85% |
| Granulated sugar | 28.11% | 3.98% |
| Tea | 44.90% | 2.74% |
| Tracksuit (For Men) | 21.58% | -4.88% |
| Trousers (For Women) | 26.88% | -3.64% |
| Sweatshirt (For Kids) | 53.12% | -4.26% |
| Soap | 92.63% | 7.12% |
| Baby Diaper | 44.36% | 2.63% |
