Monthly cost of living in Istanbul surpasses $2,300 with 56.21% increase: IPA

The cost of living for a family of four in Istanbul rose to ₺82,880 ($2,308) in January, marking a 56.21% annual increase, according to the Istanbul Planning Agency (IPA).

The report indicates that the cost of living in the city increased by 7.10% compared to the previous month, amounting to an additional ₺5,495.

Goods with the highest price hikes

Price hikes in essential food and consumer goods were particularly notable. Over the past year, the price of baby formula surged by 67.43%, while meat and ground beef rose by 55.10%. Sunflower oil prices increased by 62.28%, and milk saw a 42.54% rise.

Product	Annual change	Monthly change
Rice	33.36%	5.75%
Baby food	67.43%	4.72%
Pasta	35.88%	4.23%
Meat-Minced Meat	55.10%	2.01%
Milk	42.54%	12.76%
Sunflower Oil	62.28%	3.03%
Kidney Beans	35.01%	0.93%
Tea	54.85%	1.13%
Underwear (For Men)	43.09%	5.29%
Sweater (For Child)	22.17%	-2.06%
Television	15.55%	0.20%
Shaving Supplies	92.48%	-0.20%
Shoes (For Women)	15.85%	2.58%

Among individual product categories, the most striking price increase was recorded in shaving products, which soared by 92.48% compared to January of the previous year.

Istanbul remains the most inflationary city in Europe, with the Istanbul Chamber of Commerce (ICOC) reporting a 48.4% annual increase in consumer prices for January.