Istanbul's inflation rate hits 59.18 percent in September

Duvar English

According to the Istanbul Chamber of Commerce (ITO), in September, the Cost of Living Index for wage earners in Istanbul, which reflects retail price movements, increased by 3.90% compared to the previous month, while the Wholesale Price Index, which tracks wholesale price movements, rose by 4.67%.

Compared to September of the previous year, retail prices increased by 59.18%, while wholesale prices rose by 47.89%.

Retail prices increased across several categories in September compared to the previous month with the biggest rises being in "other expenses" at 14.62%, culture, education, and entertainment at 13.24%, and clothing at 6.67%.

Increases were also noted in housing at 4.18%, household goods at 3.62%, food at 2.63%, and health and personal care at 0.72%. Meanwhile, the only decrease was seen in transportation and communication, which dropped by 0.35%.

Wholesale prices also saw notable increases in the megacity compared to the previous month with the textiles group experiencing the largest rise at 13.72%. It was followed by raw materials at 6.83%, construction Materials at 5.48%, and chemical products  at 4.43%. 

Additionally, there were increases in foodstuffs by 2.61%, metals by 2.60%, and fuel and energy materials by 2.01%.