Consumer prices in Istanbul rises 2.47 percent

ISTANBUL

Istanbul’s consumer prices increased by 2.47 percent month-on-month in October, according to the Istanbul Chamber of Commerce (İTO), which publishes the Istanbul Consumer Price Index, a key indicator of retail price movements in the city.

The monthly inflation rate accelerated from 2.11 percent in September.

Among the main expenditure groups, the largest monthly increase was recorded in clothing and footwear, where prices rose 10.60 percent. This was followed by recreation and culture with a 5.32 percent increase and communication with a 5.05 percent rise.

Prices also increased by 2.58 percent in food and non-alcoholic beverages, 2.24 percent in housing, 1.87 percent in restaurants and hotels, and 0.45 percent in transportation.

On an annual basis, Istanbul’s consumer inflation slowed to 32.47 percent in October, down from 33.55 percent in September.

Turkish Statistical Institute (TÜİK) will unveil the official inflation data on Nov. 3.

Economists surveyed in state-run Anadolu Agency Finans expect Türkiye’s Consumer Price Index (CPI) to increase by 2.2 percent in October.

Based on the average forecast, annual inflation is expected to ease to 29.28 percent in October from 29.73 percent in September.