Cost of living soars for Turkish families

Cost of living soars for Turkish families
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Monthly inflation reaches double digits as food prices rise 70% in a year

On Tuesday, the Confederation of Turkish Trade Unions (Turk-Is) released its monthly "Hunger and Poverty Line" report for July 2023. The report found that a family of four's minimum monthly food expenditure to maintain a nutritious diet in Ankara has risen to 11,658 Turkish Liras (TL). This threshold, known as the "hunger threshold," increased by 12.38 percent from June.

The total minimum monthly expenses, including food, clothing, housing, transportation, education, and health care for a family of four, also known as the poverty line, rose to 37,974 TL in July. This is the first double-digit increase since May 2022.

Food inflation has continued its rapid rise, with prices increasing by 70.44 percent over the past 12 months. The significant increases underscore the deepening cost-of-living crisis facing Turkish households amid rising inflation and a weakening currency.