 revealed that 16.3 percent of İstanbul residents faced times last month when they had no food at home due to financial hardship, with many struggling to pay rent and forced to cut back on meals amid Turkey's worsening cost of living crisis, the Velev news website reported on Monday.){kind=link}
A recent survey conducted by the İstanbul Planning Agency (IPA) revealed that 16.3 percent of İstanbul residents faced times last month when they had no food at home due to financial hardship, with many struggling to pay rent and forced to cut back on meals amid Turkey’s worsening cost of living crisis, the Velev news website reported on Monday.
The November edition of the “İstanbul Barometer,” published by the IPA, highlighted the severe impact of rising costs and inflation on the city’s residents.
The survey, conducted from December 1 to 7 included 1,001 participants and found that economic pressures continue to strain households, with one in 10 tenants unable to pay their rent in full and over half of respondents reporting they had to forgo their preferred foods due to financial limitations.
According to the report, 44.5 percent of participants said they had to reduce portion sizes to make their food last longer, while 53.3 percent reported being unable to afford their usual dietary choices. The findings shed light on the effects of deepening financial hardship on the city’s population of more than 16 million.
The report also revealed challenges in managing credit card debt, with 8 percent of respondents unable to make any payments on their credit card debt and another 8.8 percent paying less than the minimum amount due. In all, 39.4 percent of participants said they were barely making ends meet, and 29.4 percent said they are falling into debt due to unpaid bills.
This financial strain comes amid high inflation and a high cost of living in Turkey. Official data from the Turkish Statistical Institute showed annual inflation at 47.09 percent in November, though independent economists from the Inflation Research Group estimated the rate at over 86 percent.
The findings of the “İstanbul Barometer” reflect the broad struggles faced by Turkey’s poor and middle-income families, who continue to bear the brunt of the cost of living crisis. Difficult conditions have persisted for several years.