Istanbul’s inflation reaches nearly 62% in August
Skyscrapers are seen in the business and financial district of Levent, which comprises leading banks' and companies' headquarters, Istanbul, Türkiye, March 29, 2019. (Reuters Photo)
Istanbul Chamber of Commerce announced the Istanbul Wage Earners’ Livelihood Index and Wholesale Price Index data for August. The data revealed a year-over-year inflation rate of 61.57% in Istanbul. In the same period, wholesale prices increased by 46.87%.
Retail prices rose by 1.73% in August, and wholesale prices rose by 0.98% compared to the previous month. Housing expenditures increased by 7.06%, culture, education, and entertainment expenditures by 2.11%, household goods expenditures by 1.56%, and clothing expenditures decreased by 3.74%.
Wholesale prices increased by 3.59% for textiles, 3.09% for construction materials, 1.94% for unprocessed materials, and 1.65% for minerals. Fuel and energy materials decreased by 0.42%.
