, an organization affiliated with the İstanbul Metropolitan Municipality.){kind=link}
More than 2.7 million people out of 15 million residents of İstanbul are living in poverty, according to a study by the İstanbul Planning Agency (İPA), an organization affiliated with the İstanbul Metropolitan Municipality.
The findings, released in the agency’s “2024 Income Distribution Statistics,” cite official data and highlight deepening inequality in the city.
The report was published shortly after the national minimum wage was increased to 22,104 liras ($624). According to the study, this adjustment falls short of providing sufficient means for millions in the city as the data reveal persistent financial struggles for large segments of İstanbul’s population.
The analysis indicates that income inequality in İstanbul has worsened significantly, with the wealthiest 10 percent earning 13.91 times more than the poorest 10 percent in 2024, compared to 9.25 times in 2014.
Housing costs remain a significant burden for many residents, with the proportion of people identifying these expenses as a strain rising from 88.9 percent in 2021 to 93.8 percent in 2024.
TurkStat reported a 1.03 percent monthly rise in consumer prices for December, bringing annual inflation down from 47.1 percent in November to 44.3 percent. This marked the seventh consecutive month of slowing inflation, aligning with the central bank’s forecast of 44 percent for the end of 2024. However, independent economists from the Inflation Research Group (ENAG) disputed these figures, calculating year-on-year inflation at 83.4 percent.