Living in Istanbul now costs over 3 times minimum wage
Nostalgic tram in Kadıköy district, Istanbul, Türkiye. (Shutterstock Photo)
The Istanbul Planning Agency (IPA), affiliated with the Istanbul Metropolitan Municipality (IBB), has released its June report on the cost of living in Istanbul.
According to the report, the cost of living in the city has increased by 79.5% compared to the same month in 2023.
The IPA’s research indicated that the average cost of living for a family of four in Istanbul is now ₺63,524. This marks an increase of ₺2,001 from June, equating to 3.7 times the minimum wage.
When comparing essential consumer goods with the previous June, chickpeas’ most significant price increase was observed, which surged by 89.1%.
Among all consumer goods examined, oral and dental care products experienced the highest price hike, soaring by 206.2% compared to 2023.
