İstanbul's inflation rate hits 24-year high

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Retail prices in Türkiye's metropolis of İstanbul rose by 4.09 percent in July compared to the previous month, according to the İstanbul Chamber of Commerce figures released today (August 1).

The monthly increase in the wholesale prices was 3.10 percent, showed the figures.

The annual increase in retail prices was 99.11 percent and in wholesale prices was 87.95 percent, marking a 24-year high.

In terms of spending items, the monthly increase was 17.31 percent in healthcare and personal care, 7.70 percent in household goods, 4.83 percent in food, 4.44 percent in culture, education and entertainment, 2.63 percent in clothing and 2.15 percent in housing.

The Turkish Statistical Institute (TurkStat) will announce the country's official inflation figures on Wednesday. (HA)