The consumer price index in Istanbul increased by 1.23 percent month-on-month in December, edging up from the 1.19 percent rise recorded in November, according to data from the Istanbul Chamber of Commerce (İTO).
Based on the December figures, annual inflation in Türkiye’s largest city stood at 37.68 percent, easing slightly from 38.28 percent in November.
Food prices in Istanbul climbed 1.65 percent in December, bringing the annual increase to 36.6 percent. Housing costs rose 1.9 percent month-on-month and 53.2 percent year-on-year. Hotel and restaurant prices posted monthly and annual increases of 3.2 percent and 37.8 percent, respectively. Clothing prices fell 0.8 percent compared to November but were up 26.3 percent from December 2024, İTO data showed.
Transportation costs declined 0.7 percent on a monthly basis, while the annual increase reached 30 percent.
The Turkish Statistical Institute (TÜİK) will unveil nationwide inflation data for December on Jan.5.
Economists surveyed by AA Finans forecast that Türkiye’s Consumer Price Index (CPI) increased by 0.96 percent in December.
Based on the survey’s consensus, annual inflation, which stood at 31.07 percent in November, is anticipated to ease to 31 percent in December.
