Retail prices in Istanbul increase 4.9 percent in April

ISTANBUL

The monthly increase in retail prices in Istanbul accelerated from 3.9 percent in March to 4.89 percent in April, data from the Istanbul Chamber of Commerce (İTO) has shown.

The annual increase, consequently, quickened from 78.25 percent in March to 78.8 percent last month, while prices in the country’s largest city have risen 21 percent compared to the end of 2023.

Food prices rose 4.84 percent monthly, which brought the annual increase to 80.97 percent, whereas transport costs increased 2.2 percent month-on-month and 92.1 percent year-on-year.

Clothing prices surged 23.85 percent last month from March with the annual increase shooting up to 100 percent, showed the İTO data.

The cost of eating out rose by 6.36 percent month-on-month, after climbing 4.3 percent in April, while the annual increase edged up from 97.1 percent to 97.3 percent.

Culture and entertainment prices increased by 4.88 percent monthly and 83.3 percent annually.

Wholesale prices in Istanbul rose by 4.87 percent last month, after rising 3.78 percent in March. The annual increase in wholesale prices accelerated from 63.2 percent to 65.9 percent.

The Turkish Statistics Institute (TÜİK) will unveil the nationwide consumer price inflation data for April on May 3.

The monthly inflation is expected to be 3.2 percent, which will bring the annual inflation rate to around 70 percent, showed the polls of economists.

The annual inflation rate climbed from 67.07 percent in February to 68.5 percent in March, according to TÜİK. The monthly inflation, however, slowed from 4.5 percent to 3.26 percent.