Turkish readywear retailer Koton’s stock damaged by Ukrainian bombing of Wildberries warehouses in Russia
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The price demanded of the consumer in Turkey for an Apple (Nasdaq: AAPL) iPhone 17 Pro is higher than anywhere else in the world, according to Deutsche Bank Research Institute’s Mapping the World’s Prices 2026 report.
The study estimated the handset’s retail price in Turkey at $2,592, making it roughly 2.2 times more expensive than the price paid on the US market.
IntelliNews has been reporting on the eyewatering cost of iPhones in Turkey for several years.
Researchers linked the significant price premium to Turkey’s tax structure as well as the substantial depreciation of the Turkish lira over the past decade.
Forty one economies were surveyed.
The study also suggested that Istanbul, Turkey's largest city by population, remained comparatively affordable across several everyday spending categories. Grocery prices were calculated at 42% of New York levels, while average monthly utility bills amounted to $90 and internet subscriptions cost around $16.5 per month.
In Deutsche Bank’s restaurant affordability comparison, Istanbul placed 53rd among 69 cities. A three-course dinner for two at a mid-range restaurant averaged $53, equivalent to about 38% of the cost of a similar meal in New York.
The report also estimated the city’s average monthly net income at $1,173, positioning Istanbul 56th in the global salary ranking.
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