According to the ECA International report which provides consulting services for employees outside their country, Istanbul was shown as the city where the cost of living increased the most in a year.
Inflation, current account deficit and exchange rates had broken records during the term of former minister Nureddin Nebati, who took the ministry seat in December 2021. Experts make the analogy of a ‘time bomb’ for the “exchange rate protected deposits” (KKM) that were put into operation during this period. Reserves are also in the cons despite the support of ‘friendly countries’.
In such a picture, citizens are increasingly crushed under the increasing cost of living. Finally, inflation in Istanbul was measured as 1.66 percent per month and 56.05 percent per year.
According to BBC Turkish, Istanbul has risen 95 places compared to last year and has become the 108th most expensive city in the world.
ACCORDING TO ECA 10 MOST EXPENSIVE CITIES IN THE WORLD ARE AS FOLLOWS:
Geneve, London, Zurich, Bern, Kopenhagen, Moscow, Oslo, Luxembourg, Dublin, Amsterdam
10 MOST EXPENSIVE CITIES IN THE WORLD
New York, Hong Kong, Geneve, London, Singapour, Zurich, San Francisco, Tel Aviv, Seul, Tokyo
