One out of every four people in South Cyprus is foreign
20 June, 2016Meral Akıncı and Andri Anastasiades contribute to the negotiation process
20 June, 2016Turkish Cypriot Chamber of Commerce (TCCC) stated that North Cyprus is 9.51% cheaper than South Cyprus.
TCCC explained that their “Comparative Price Levels” analysis was updated in June by adding new products to the average basket to better reflect daily consumer needs. The new results of the TCCC study are based on this updated basket, and are valid as of early June 2016.
According to TCCC, the basket of goods cost 539.14 TL in North Cyprus, whereas the same basket cost 590.42 TL in South Cyprus, based on the prices of 7 June 2016.
The TCCC statement continued as follows:
“Within the scope of this study, we compared the prices of 49 products based on one-to-one equivalent product (brand, weight). The prices we take into account are an average of 3 supermarkets chosen from North Cyprus and South Cyprus. The study does not reflect the prices of the products sold directly by producers, for example in the countryside.”