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The cost of living in Istanbul reached new heights, as the average monthly cost of living for a family of four was calculated at ?87,485 ($2,301), the Istanbul Planning Agency (IPA) reported on Monday.
The figures show a 51.95% increase compared to March of last year. On a monthly basis, costs rose by 2.38%, marking a ?2,032 ($63) increase from the previous month.
The Istanbul Chamber of Commerce (ICOC) reported a monthly inflation rate of 3.79% in the city, with annual inflation standing at 46.23%.
Nationally, inflation continues to trend downward for the tenth consecutive month, reaching 38.10%, according to the Turkish Statistical Institute (TurkStat).
Among essential goods, personal care products recorded the highest annual price increases. Shaving products surged by 83.25%, sunflower oil by 58.13%, and baby diapers by 55.88%. In March alone, diaper prices climbed by 13.97%.
In the food category, egg prices rose 48.59% year-over-year, while bread was up 44.59%, milk 31.20%, and meat and ground beef 27.01%.
On a monthly basis, eggs saw an 11.33% spike, chicken rose by 5.32%, and granulated sugar rose by 4.97%.
Reports published by the IPA since 2023 indicate a steady upward trend in the cost of living. In March 2023, the average monthly cost was ?31,788. In just two years, this figure has nearly tripled.
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