August Inflation Data Announced in Istanbul

According to the 2023-based index data announced by the Istanbul Chamber of Commerce, retail prices in Istanbul increased by 1.66 percent and wholesale prices by 2.5 percent in August compared to the previous month.

Retail and Wholesale Price Changes

The Istanbul Chamber of Commerce shared the August results of the 2023-based Istanbul Consumer Price Index and Wholesale Price Index with the public. According to the announcement, the index, which serves as an indicator of retail price movements, increased by 1.66 percent in August compared to the previous month.

Annual Inflation Rates

When examining the rate of change compared to the same month of the previous year, it was observed that the annual increase in retail prices stood at 34.96 percent. On the wholesale prices front, the annual increase rate was recorded as 25.07 percent.

Highest Increase in Retail was in Education

In the Istanbul Consumer Price Index, the highest increase in August compared to the previous month was recorded in the education expenditures group with 17.28 percent. The education group was followed by alcoholic beverages and tobacco with 8.22 percent, and housing expenditures with 2.32 percent.

Unprocessed Materials in Wholesale Goods

The main group showing the highest increase in wholesale prices in August compared to the previous month was unprocessed materials at 7.29 percent. This group was followed by fuel and energy materials with 2.75 percent, and construction materials with 1.99 percent.