North Cyprus Inflation at 30% Over the Year to March 2019

North Cyprus Inflation at 30% Over the Year to March 2019I guess it is no surprise to learn that prices in North Cyprus have risen over the last year, particularly for food and non-alcoholic beverages, furniture and housing, water, electricity and gas. You just have to go shopping to discover that. North Cyprus Inflation is currently around 30% per year. What is interesting to ex-pats is how their buying power has actually improved during that period.

Back in March 2018 you could get about 5.5TL per £1 but by March 2019 you received 7.5 TL. That’s an increase of nearly 40%! OK, the lira has grown stronger more recently with Turkey’s President Erdogan confirmed by the Appeal Court as a loser  in the Istanbul elections but once the Supreme Court reverses that then the lira will return to its old ways, I reckon.

Mind you, Efes at Lemar still works out at 60p a bottle so who’s complaining – ah, yes, the locals who are paid in lira!

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