North Cyprus inflation higher than Turkey

Inflation rate in north Cyprus over the last four months (Jan-April 2019) has been determined as 5.72%, higher than the inflation rate in Turkey over the same period of 4%.

When comparing figures between Turkey and the TRNC, Turkey has a lower rate of 1.72% in terms of inflation and cost of living.

According to the Undersecretary for the State Planning Organisation, Ödül Muhtaroğlu, the cost of living rate is expected to rise to 8.4% over the next six months.

Fuel and electricity prices affect the cost of many goods. So the figures are up. Alcoholic beverages, cigarettes and tobacco prices are affected. Also clothing, new season shoes have seen price hikes. Prices in restaurants and hotels have gone up. Flight tickets have also been raised, as have rent and vehicle prices due to the increase in foreign exchange rates.

He said, however, that this month, he did not expect the cost of fuel to rise.

Source: LGC news