Annual inflation in Istanbul continues to rise: ITO Data

According to ITO data, retail prices in Istanbul increased by 3.93 percent and wholesale prices by 3.78 percent in March compared to the previous month. The annual change was 78.25 percent in retail and 63.21 percent in wholesale prices. In February, annual ITO retail inflation rose from 76.2% to 76.6%.

Istanbul Chamber of Commerce (ITO) announced the city’s inflation data for March.

According to the statement made by ITO, in March 2024 in Istanbul; The Istanbul Wage Earners Livelihood Index, which is an indicator of retail price movements, increased by 3.93 percent compared to the previous month, and the Wholesale Price Index, which reflects wholesale price movements, increased by 3.78 percent.

Compared to March 2023, the rate of change compared to the same month of the previous year, which shows the price changes in March 2024, was 78.25 percent in the 1995-based Wage Earners’ Livelihood Index of the Istanbul Chamber of Commerce (ITO) and 63.21 percent in the Wholesale Price Index.

In March 2024, retail prices increased by 8.96 percent in Clothing Expenditures, 8.66 percent in Other Expenditures, 6.01 percent in Household Goods Expenditures, 3.90 percent in Housing Expenditures, 3.62 percent in Food Expenditures, 3.05 percent in Health and Personal Care Expenditures, 1.06 percent in Transportation and Communication Expenditures, and 0.20 percent in Culture, Education and Entertainment Expenditures compared to the previous month.

In March 2024, wholesale prices increased by 7.85 percent in the Mines Group, 5.20 percent in the Foodstuffs Group, 3.30 percent in the Unprocessed Materials Group, 2.65 percent in the Chemicals Group, 0.83 percent in the Construction Materials Group and 0.43 percent in the Fuel and Energy Materials Group compared to the previous month. No change was observed in the Textile Group.