Retail prices in İstanbul increased by 4.56% in January compared to the previous month, according to data released by the İstanbul Chamber of Commerce (İTO) today.
The İTO Wage Earners Cost of Living Index, a measure of retail price movements, rose 36.15% on an annual basis. Wholesale prices in the city grew by 1.28% monthly and 21.39% annually. The monthly inflation rate was recorded at 1.23% in Dec.
Health expenditures saw the highest monthly increase at 11.94%. This was followed by transportation at 9.96% and miscellaneous goods and services at 8.52%.
Other sectors showing upward movement included hotels and restaurants at 6.22%, household goods at 4.40%, and food and non-alcoholic beverages at 4.27%.
The İTO attributed the price hikes in health, transportation, and miscellaneous goods to public price adjustments and market conditions. Food prices were influenced by seasonal winter effects. Conversely, clothing and footwear prices fell by 2.32% due to market conditions.
In the wholesale category, minerals saw the sharpest monthly rise at 6.09%. Fuel and energy materials followed with a 2.67% increase. Food items rose 2.52%, while chemical products decreased by 5.04%.
The Turkish Statistical Institute (TurkStat) is scheduled to release the nationwide consumer price index tomorrow. (HA/VK)
