Consumer prices in Istanbul rose 1.66 percent in August from the previous month, slowing from the 2.06 percent increase recorded in July, according to data released by the Istanbul Chamber of Commerce (İTO).
Annual inflation in the city eased to 34.96 percent in August from 35.2 percent in July.
On a monthly basis, the largest price increases were seen in health services, which rose 9.77 percent, followed by transportation at 4.42 percent and communication at 3.69 percent.
Prices in the recreation and culture category increased 2.5 percent, while housing costs rose 2.01 percent. Restaurant and hotel prices climbed 1.54 percent, education costs increased 1.47 percent and food and non-alcoholic beverages were up 1.3 percent compared to the previous month.
Prices of alcoholic beverages and tobacco increased 0.77 percent, while the clothing and footwear category posted a 0.66 percent decline.
The Turkish Statistical Institute (TÜİK) is scheduled to release nationwide inflation data on Sept. 3.
Economists participating in AA Finans’ survey forecast that the consumer price index (CPI) rose 1.86 percent in August.
Based on the average forecast, annual inflation is expected to ease to 31.52 percent in August from 31.75 percent in July.
Economists’ average year-end inflation forecast stands at 29.49 percent.
Türkiye’s consumer price index increased 1.78 percent month-on-month in July.
