Annual increase in cost of living in Istanbul 79%: Municipal agency
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A family of four now have to spend at least 44,500 lira, or $1,620 US dollars, to meet minimum needs, according to a report by Istanbul Planning Agency.
The minimum monthly cost of living in Istanbul for a family of four rose to 44,500 lira (approx. $1,620) in September by an annual increase of 79%, an agency of Istanbul Metropolitan Municipality announced.
The minimum wage is 11,400 lira (approx. $415) in Turkey, where more than a third of all wage workers receive minimum wage according to official figures. The figure is actually much higher as at least 30% of workers are employed informally and paid a minimum or sub-minimum wage.
The annual increase in meat products was 117%, Istanbul Planning Agency (IPA) said.
The monthly increase of 4.6% in September was nevertheless significantly lower than the previous month (9.7%) and the month before (9.8%).
