ISTANBUL, June 29 (Xinhua) -- Early in the morning, commuters and students fill Istanbul's metro system crossing the Bosphorus Strait. Among them is Deniz Iscan, a university junior.
Iscan studies at Yeditepe University. Speaking about rising consumer prices and living costs, she shows a maturity and concern beyond her years. She said her daily commute requires multiple transfers between buses and the metro, taking more than four hours in total. Unable to afford to rent a room near the university, she lives with her parents to reduce expenses.
Real estate data reflects her situation. In 2025, apartment rents in Türkiye rose by 77.6 percent, far exceeding increases in most European countries. Nearly 28 percent of the population lives in rented housing, making the impact of rising rents widespread.
At noon, Iscan eats a simple meal at the university cafeteria, paying 400 liras (about 8.6 U.S. dollars). The meal includes a small portion of chicken breast, rice, and a dessert. She notes that although the price is high for a student cafeteria, it remains the cheapest option available. She also buys second-hand books and shares group purchases of daily necessities with classmates to save on expenses.
Academic materials have become a growing financial burden. Haluk Hepkon, founder of the Kirmizi Kedi publishing house, told Xinhua that books are becoming a luxury item. Purchasing just two books can now cost over 1,000 liras (21.4 dollars). He said rising production, printing and transportation costs have driven prices higher, forcing many readers to turn to second-hand bookstores.
Local media reports show that over the past three years, Türkiye's cumulative inflation has reached 215 percent. Education costs recorded the largest increase at 428 percent, followed by housing at 371 percent, and food and accommodation at 248 percent.
Inflation is also placing significant pressure on businesses. Omer Demir, marketing manager at Turkish construction machinery company Likya Machinery, said, "Due to the depreciating lira and high inflation, very few customers can afford to pay in full today."
Most buyers now rely on bank loans or financial leasing, he said. For customers with weaker credit, dealers are often required to offer installment plans, with repayment cycles becoming increasingly extended. In many cases, cash-strapped clients trade in second-hand equipment at discounted prices to purchase new machinery. As a result, manufacturers have been forced to cut prices, compressing profit margins while facing risks of delayed payments or default.
Financial analyst Murat Tufan said these difficulties reflect broader economic pressures. External shocks, particularly potential disruptions in global energy chokepoints such as the Strait of Hormuz, continue to drive up commodity prices and complicate inflation control. In addition, many economists point to years of the central bank's loose monetary policy as a key domestic factor behind persistent inflation.
Rising energy prices remain a major driver of inflation. Türkiye relies heavily on imported oil and natural gas. Following the outbreak of recent conflicts in the Middle East, international oil prices have fluctuated sharply, increasing the country's energy import costs.
The Russia-Ukraine conflict has also affected Türkiye through energy and food supply chains. The status of the Black Sea Grain Initiative directly influences wheat and other commodity prices, which ultimately feed into domestic food costs.
In recent years, Türkiye has experienced sharp currency depreciation, surging inflation, and a widening current account deficit. Over the past four years, inflation has peaked at more than 80 percent and remained above 30 percent.
For young people like Iscan, these figures translate into an ongoing struggle to afford basic living costs. Enditem
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