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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%
Monthly comparison of cost-of-living change rate in Istanbul. (Source: Istanbul Planning Agency, Cost of Living in Istanbul—November 2024)
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%
Annual comparison of the change rate of cost of living in Istanbul. (Source: Istanbul Planning Agency, Cost of Living in Istanbul—November 2024)
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%
Monthly and annual price change rates of products. (Source: Istanbul Planning Agency, Cost of Living in Istanbul—November 2024)
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