İstanbul's inflation rate surpasses 92 percent

The inflation rate in İstanbul, Türkiye's largest city, was 92.97 percent in December, according to the İstanbul Chamber of Commerce (İTO).

Retail prices in the city rose by 2.94 percent and wholesale prices rose by 3.71 percent compared to the previous month, showed the report. The annual increase in the Wholesale Price Index was 81.31 percent.

The highest monthly increase in retail prices was in health and personal care with 7.04 percent. Prices of household goods increased by 3.89 percent, housing expenditures increased by 3.82 percent and food expenditures increased by 3.06 percent.

In wholesale prices, the highest decrease was in the construction equipment group with 10.65 percent.

Türkiye's official inflation rate was 84.39 percent in November, whereas the Inflation Research Group (ENAG), an independent group of economists, says it was 170.70 percent.

Over the past year, the country's official inflation rate rose from about 13 percent to levels unseen since the 1990s. (HA/VK)