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The cost of living in Northern Cyprus in 2023

Inflation in northern Cyprus rises to more than 83 percent in 2023

The cost of living in North Cyprus, whose economic fortunes are linked to Turkey via the lira, spiralled out of control last year, Yeniduzen reports.

According to the Statistical Institute annual inflation in North Cyprus rose to 83.62 percent as of December 2023. Meanwhile, the economic forecast for 2024 is equally grim.

Last year, the worst affected sector was healthcare and medicines at 96.09%

Housing, water, electricity, gas and other fuels: 89.45%

Furniture, household appliances and maintenance services: 84.36%

Transportation: 83.25%

Miscellaneous goods and services: 80.70%

Entertainment and culture: 72.38%

Clothing and shoes: 70.66%

Alcoholic beverages and tobacco: 69.25%

Staple foods: 64.35%



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The World Bank expects the TRNC's economy to grow by 2.7 percent this year.

The World Bank expects the TRNC's economy to grow by 2.7 percent this year.

New law regulating the sale of real estate to foreigners in 2024 in Northern Cyprus

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Debate over the country's population

According to this scientific calculation, we can predict the population of Kyrenia to be 155,000. "If we take the entire TRNC, take the average daily waste volume of 850 tons and divide it by 1.03 kilograms, we can easily predict that the number of people living in the TRNC will be approximately 825,000."