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Rising living costs amid high inflation have hit Türkiye’s largest city, Istanbul, particularly hard, as 53.9% of residents report difficulty covering daily expenses, the Istanbul Planning Agency (IPA) reported.
According to the monthly survey conducted by the IPA, named as the "Istanbul Barometer," nearly one in three—31.4%—Istanbulites said they could no longer afford even basic necessities, up sharply from 22.1% a month earlier, as the cost of living for a family of four was recorded at ₺102,045 ($2,438.16) in September, the agency reported.
The survey revealed that household incomes are rapidly eroding as debt burdens expand, leaving many residents increasingly pessimistic about the country’s economic outlook. Around 38% of participants expect Türkiye’s economy to deteriorate in the coming months, while only 22% believe conditions will improve.
Data showed that 40% of respondents managed to pay only the minimum amount due on their credit card bills, while the share of those able to settle their debts in full dropped from 47.6% to 40.6% within a month. Among lower-income participants, 11.3% said they were unable to make any payment at all.
Agency experts warned that this trend reflects a deepening "household debt spiral," in which credit use increasingly compensates for stagnant or eroding earnings amid inflation.
Food expenses remain the fastest-growing component of living costs, with nearly half (49.5%) of households expressing concern about insufficient access to food. Around 17.9% said they frequently felt such anxiety.
Economic pressure is also evident in households’ unpaid bills, with about 18.3% of participants saying they could not pay all their monthly utilities or maintenance fees.
Looking ahead, 73.5% of respondents expect unemployment to rise, while an overwhelming 87.1% believe the Turkish lira will continue to lose value. Roughly 41% anticipate slower economic growth over the next six months.
In its assessment, the IPA said that Istanbul residents’ economic resilience is "rapidly weakening," as the imbalance between income and expenditure, coupled with mounting debt and rising living costs, places "serious pressure on social welfare."
The agency noted that residents’ top concerns in September were the economy, justice, and public safety—issues increasingly intertwined as households face mounting financial distress across the city.
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