Monthly inflation in Istanbul slows to 2.8 percent in May
ISTANBUL
Consumer prices in Istanbul increased by 2.83 percent monthly in May, easing from 3.2 percent in April, data from the Istanbul Chamber of Commerce (İTO) has shown.
The May print marked the slowest monthly increase recorded this year.
The year-on-year increase in consumer prices in Türkiye’s megacity was 46.57 percent last month, down from 47.2 percent in April.
Consumer prices have risen by 19.5 percent compared to the end of 2024.
Housing prices in the city with a population of nearly 16 million advanced by 3.1 percent month-on-month for an annualized increase of 78.2 percent, while the monthly and annual increases in food prices were 3.24 percent and 40.5 percent, respectively.
Transport costs were up 1.1 percent from April, which brought the year-on-year increase to 32.8 percent. Clothing prices were almost unchanged monthly, but the annual increase was 45.5 percent annually.
Hotel and restaurant prices in the city rose by 1.7 percent month-on-month and 39.1 percent year-on-year.
The Turkish Statistical Institute (TÜİK) will unveil the nationwide consumer price inflation on June 3.
Economists predicted that monthly inflation in Türkiye slowed to 2.1 percent in May from 3 percent in April.
