The retail prices in İstanbul increased in July

retail prices

In İstanbul, retail prices increased by 9.84 percent compared to the previous month in July. This marks the fastest increase in İstanbul’s Consumer Price Index (CPI) since April 2022. On an annual basis, the increase reached 63.7 percent.

According to the İstanbul Chamber of Commerce (İTO) data, the İstanbul Cost of Living Index, which indicates the movement of retail prices in İstanbul, increased by 9.84 percent compared to the previous month in July. The increase in the previous month was 3.46 percent.

This marks the fastest monthly increase in the index since the 11.36 percent increase in April 2022.

On an annual basis, prices rose by 63.7 percent, whereas the increase in the previous month was 55.19 percent. This indicates the end of the series of annual declines in inflation.

The monthly increase in different categories is as follows: health and personal care 17.35 percent, household goods 16.02 percent, culture, education, and entertainment 14.66 percent, transportation, and communication 12.79 percent, housing 10.07 percent, food expenses 8.61 percent, and clothing 2.33 percent.

The Wholesale Price Index, which tracks producer prices, increased by 4.54 percent monthly and 66.57 percent annually. Within wholesale goods, there was an 11.26 percent increase in the mining group and a 9.70 percent increase in the fuel and energy group.

The Turkish Statistical Institute (TÜİK) will announce the nationwide consumer and producer inflation data for July on Thursday, August 3rd.

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