The annual inflation rate in İstanbul is 55 percent

İstanbul Chamber of Commerce has released the inflation data for İstanbul.

In June, retail prices in Istanbul increased by 3.46 percent compared to the previous month, while wholesale prices rose by 4.32 percent. When examined on an annual basis, the rate of change was 55.19 percent for retail prices and 64.27 percent for wholesale prices.

According to İstanbul Chamber of Commerce’s (İTO) data based on 1995, the İstanbul Cost of Living Index, which reflects retail price movements in Istanbul, increased by 3.46 percent in June compared to the previous month. On the other hand, the Wholesale Goods Price Index, which reflects wholesale price movements, recorded a 4.32 percent increase.

When these data are examined on an annual basis, the rate of change was 55.19 percent for retail prices and 64.27 percent for wholesale prices.

In June, compared to the previous month, there was an increase of 6.99 percent in culture, education, and entertainment expenses, 5.11 percent in transportation and communication expenses, 3.75 percent in housing expenses, 3.39 percent in household goods expenses, 3.37 percent in food expenses, 3.20 percent in clothing expenses, and a slight increase of 0.08 percent in health and personal care expenses. However, there was a decrease of 0.85 percent in other expenditure group.

In terms of wholesale prices in June, compared to the previous month, there was an increase of 8.36 percent in fuel and energy materials group, 5.71 percent in construction materials group, 4.21 percent in unprocessed materials group, 3.93 percent in food materials group, 3.30 percent in textiles group, and 2.21 percent in minerals group. On the other hand, there was a decrease of 1.36 percent in chemical materials group.

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