Istanbul inflation rate rises 3.19% in February, annual inflation falls to 45.35%
Pigeons fly around in Eminonu district of Istanbul, Türkiye on February 05, 2025 (AA Photo)
Consumer prices in Istanbul increased by 3.19% in February, while annual inflation slowed to 45.35%, according to data released by the Istanbul Chamber of Commerce (ICOC).
Consumer price index trends
The ICOC Istanbul Consumer Price Index (CPI) recorded a monthly increase of 3.19% in February 2025.
Compared to the same month in 2024, prices in Istanbul rose by 45.35% based on the ICOC 2023=100 index.
The price changes by sector in February were as follows:
- Various Goods and Services: +4.14%
- Restaurants and Hotels: +4.09%
- Housing Costs: +3.93%
- Food and Non-Alcoholic Beverages: +3.41%
- Household Goods: +2.30%
- Education: +1.98%
- Entertainment and Culture: +1.48%
- Transportation: +1.40%
- Alcoholic Beverages and Tobacco: +0.25%
- Clothing and Footwear: +0.14%
- Health: -0.95% (only category to decline)
According to ICOC, the most significant increase was seen in the “Various Good and “Services” category (+4.14%), while the Health sector experienced a 0.95% decrease.
Wholesale price index trends
Wholesale prices also continued to rise in February. The ICOC Wholesale Price Index increased by 2.33%, following a 2.83% rise in January.
Annual changes in wholesale prices included:
- Compared to February 2024: +35.10%
- Annual Average Change: +48.61%
Sectoral changes in wholesale prices from January to February 2025:
- Chemical Products: +8.91%
- Food Products: +3.37%
- Construction Materials: +2.29%
- Minerals: +1.77%
- Raw Materials: +1.11%
- Fuel and Energy Products: +0.57%
- Textiles: No change
On an annual average basis, the highest increases were seen in Construction Materials (+95.42%) and Textiles (+71.77%).
Istanbul inflation outlook
Compared to January 2025, when the annual inflation rate stood at 48.40%, February saw a slight decrease to 45.35%. Meanwhile, the annual wholesale inflation rate declined from 51.13% in January to 35.10% in February.
Despite the slowdown in annual inflation, price increases continue to be significant in key sectors such as food, housing, and transportation.
The February inflation figures highlight the continued impact of price fluctuations across multiple industries, particularly in wholesale and consumer sectors.
The construction materials sector, in particular, recorded a notable annual increase of 95.42%, signaling continued cost pressures in housing and infrastructure projects.
