Inflation Shoots Up to 94.51 Percent

North Cyprus News - Red Arrow - Price

Thursday, 5 January 2023

The cost of living in North Cyprus has peaked at 94.51 percent in the last ten years, Yeniduzen reports.

Annual inflation in Turkey, which also uses the Turkish lira, was recorded at 64.27 percent.

According to ‘Politico’ the consumer price index in Turkey fell for the second monthly drop in a row, down from 84.39 percent in November.

Meanwhile, the difference in inflation between North Cyprus and Turkey is 30.24 percent, meaning that the cost of living in North Cyprus compared to Turkey is nearly 1.5 times as much. 

Inflation over the last ten years

2012: 3.60

2013: 10.22

2014: 6.49

2015: 7.78

2016: 10.19

2017: 14.68

2018: 29.96

2019: 11.66

2020: 15.03

2021: 46.09

2022: 94.51 

Yeniduzen, Politico

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