Cost of dining out in İstanbul nearly doubles in a year

Photo: Wikimedia Commons

The cost of dining out in İstanbul has seen a staggering increase of 91.6% in just one year, according to the İstanbul Chamber of Commerce's İstanbul Cost of Living Index. In June 2022, the average cost per person for dining out was 72 Turkish lira, but by June 2023, it had risen sharply to 138 Turkish lira (1 US dollar = 26.93 Turkish lira).

This calculation considers data from various establishments, including cafes, buffets, and restaurants in 15 different areas in the city. Dining out expenses surged from 54.03 Turkish lira in January 2022 to 109.4 Turkish lira in January 2023.

By June 2023, the cost had further escalated to 137.33 Turkish lira. Recent price hikes have not affected the number of customers at "A Plus" venues, which are also mostly preferred by tourists. However, businesses that cater to lower-income groups have experienced a decline in patronage.

According to the same survey, retail prices witnessed a 3.46% increase and food expenses rose by 3.37% in the metropolis.

The food inflation in the whole country increased by 0.1% on a monthly basis and a substantial 62.30% on an annual basis in June, according to a calculation by the Confederation of Turkish Trade Unions (Türk-İş) The general consumer inflation rate was 38.21, according to the country's statistical authority.

Turkey has the highest food inflation among the OECD countries, according to a report released by the organization in March. (VK)