82.26% of the Products cheaper
in North Cyprus
The results of the North-South Price Survey conducted by an independent research institution commissioned by the Turkish Cypriot Chamber of Industry (KTSO), 82.26 per cent of the products sold in the markets in Northern Cyprus are cheaper than the products sold in the markets in South Cyprus.
According to the news report in the Yenidüzen newspaper, a product basket was formulated taking into account the Consumer Price Index basket used by the State Planning Organisation. Prices were taken from two markets, frequented by both urban and rural consumers, from the north and south. The Euro was calculated over its November value of 2.47 Turkish Lira.
According to the survey, local products are 84,21% cheaper in North Cyprus, while imported products are 79,2% cheaper. This amounts to an average of 82,26%.