Inflation in Istanbul rises 5.5 percent in September

ISTANBUL

Retail prices in Istanbul increased by 5.46 percent in September from August, data from the Istanbul Chamber of Commerce (İTO) have shown.

The monthly increase in inflation in Türkiye’s largest city eased from the previous month’s 8.8 percent.

The annual increase in retail prices also slowed from 74.17 percent in August to 73.18 percent last month.

Clothing prices advanced 14.5 percent in September compared with August, while food costs rose by 4.3 percent. Transport and communication prices inched up 0.38 percent. Housing costs increased by 3.22 percent and the month-on-month increase in health service prices was 3.5 percent.

The Turkish Statistical Institute (TÜİK) will unveil the nationwide inflation data for September on Oct. 5.

Economists forecast a monthly inflation rate of 5 percent in September. Consumer prices rose by 9.09 percent in August, which brought the annual inflation from 47.8 percent in July to 58.9 percent last month.

The data from İTO also showed that wholesale prices in Istanbul rose by 3.94 percent in September after rising 6.65 percent in August. The annual increase in wholesale prices accelerated from 66.2 percent to 67.8 percent.