As the global economy continues to reel from the aftermath of the COVID-19 pandemic, surging inflation has become a defining characteristic of the post-pandemic world. One of the most striking findings from Deutsche Bank’s latest cost of living report is that Istanbul ranks among the cities where prices have increased the most across key consumer categories.
Spanning data from 2012 and specifically tracking the post-pandemic years between 2020 and 2025, the report highlights price trends in 69 countries. It reveals a significant rise in Istanbul’s living costs—from dining out and entertainment to fashion and transportation—making the Turkish megacity a focal point of inflationary pressure on households.
Sharp Price Rises in Dining, Fitness, Fashion, and Coffee
According to Deutsche Bank’s ninth annual research report, Istanbul saw some of the steepest price increases globally in categories like dining, entertainment, and personal care:
A three-course dinner for two in a mid-range restaurant increased by 165 percent in the past five years.
Movie tickets rose by 90.3 percent, while
Fitness club memberships spiked by 136.9 percent.
The price of a summer dress increased by 69.8 percent, making Istanbul the second-highest globally after Buenos Aires.
A regular cappuccino jumped by 80.5 percent, again placing Istanbul second after Argentina’s capital.
These statistics suggest that Istanbul’s urban lifestyle is rapidly becoming less affordable, with daily conveniences such as dining, exercising, and casual shopping showing steep price hikes. The surge is particularly difficult for middle-income households already coping with broader inflation and currency devaluation.
Istanbul vs. the World: Where the City Stands
While global inflation is affecting nearly every country, Istanbul’s standing in several pricing categories is particularly noteworthy:
Second in global cappuccino price increase
Istanbul’s 3.52 USD per cup ranks it 43rd in overall price but second in price growth.Second in summer dress price hike
With a 46 USD average price, the city is ranked 33rd globally but shows the second-highest increase in the last five years.Dinner for two ranks 51st overall, but again leads in percentage increase.
In terms of affordability, Istanbul still fares better than cities like Geneva, Zurich, and New York when it comes to absolute prices. However, the rate of increase is far steeper, reflecting Türkiye’s currency depreciation and rising import costs.
Türkiye Tops the List for Most Expensive iPhone 16 Pro
One of the most eye-catching findings of the report relates to the price of the iPhone 16 Pro (128 GB). Türkiye tops the list with a retail price of 2,182 USD, nearly double that of the United States, where the same model sells for 1,079 USD.
This stark difference showcases Türkiye’s high import taxes and depreciation of the Turkish lira. Despite these high costs, Turkish consumers continue to buy Apple products in large numbers, suggesting a deep brand loyalty—or perhaps a lack of competitive alternatives.
Following Türkiye in iPhone pricing are Brazil (1,835 USD) and Egypt (1,525 USD). The lowest price for the same model was recorded in South Korea (1,063 USD).
Benzin, Transportation, and the Cost of Movement
The cost of fuel and public transport has also seen notable shifts in Istanbul:
A liter of gasoline in Istanbul rose from 0.93 USD to 1.18 USD, marking a 20.4 percent increase and placing the city 47th globally.
The monthly public transport card cost increased from 37 USD in 2020 to 54 USD in 2025, an increase of 45.6 percent, ranking Istanbul 36th globally.
Globally, cities like Hong Kong (3.07 USD/liter) and Zurich (2.27 USD) remain among the most expensive for fuel, while Cairo (0.32 USD), Doha (0.57 USD), and Kuala Lumpur (0.50 USD) are among the cheapest.
Internet: Istanbul’s Only Declining Price Point
Interestingly, internet access was the only area where Istanbul saw a price drop. The average monthly fee declined by 4.7 percent, from 16 USD to 15 USD (approx. 605 TL). In global rankings, Istanbul stood at 62nd out of 69 cities.
In contrast, Abu Dhabi topped the list at 102 USD/month, with Dubai and Doha close behind. This puts internet in Abu Dhabi at nearly 6.8 times more expensive than in Istanbul. The cheapest internet was found in Mumbai (9 USD) and Moscow and Delhi (8 USD each).
Global Tech Pricing: Türkiye Seen as a High-Profit Market
Türkiye’s ranking in smartphone and tech pricing reveals deeper market dynamics. High prices in Türkiye are not just due to tax policies but also stem from global corporations viewing the country as a high-margin market. Combined with limited local manufacturing and high dependency on imports, this creates a situation where Turkish consumers pay among the highest global prices for flagship technology products.
The report suggests this trend may worsen if inflation continues and currency fluctuations remain unstable.
Economic Implications: Rising Cost of Living Without Wage Growth
Despite Türkiye’s gradual recovery from the pandemic, wage growth has not kept pace with the inflation documented in Deutsche Bank’s findings. For many residents in Istanbul, this means a tangible decline in purchasing power.
Experts argue that currency instability, rising global commodity prices, and persistent inflation are key factors pushing everyday goods and services beyond the reach of average consumers.
How Istanbul Compares to Global Cities
Public Transport:
London leads with 244 USD/month, followed by Sydney (141 USD) and New York (132 USD).
Istanbul’s 54 USD card ranks it mid-tier but rising fast in cost.Dining:
Zurich and Geneva top the chart with 147 USD for dinner, while Istanbul’s average of 51 USD masks the steep upward trend.Coffee and Fashion:
Istanbul is no longer a budget-friendly city in these categories, now aligned with global averages.
Takeaways for Turkish Consumers and Policymakers
This comprehensive data snapshot from Deutsche Bank underscores the need for policy responses that prioritize affordability, wage alignment, and price stability. While Türkiye remains attractive for investors and global brands, its rising cost of living poses a risk to its consumer base and economic equality.
With inflation showing no signs of slowing down, everyday affordability—from cappuccinos to public transport—is becoming a pressing concern for millions of Istanbul residents.
