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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.
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.
10 min read
