Retail prices increase 4.09 pct in Istanbul in July

Retail prices increase 4.09 pct in Istanbul in July

Retail prices increase 4.09 pct in Istanbul in July

Retail prices in Istanbul increased by 4.09 percent in July from June, the Istanbul Chamber of Commerce (ITO) has said.

The annual increase in retail prices in Istanbul, Türkiye’s most populous city and commercial and financial center, advanced from 94.19 percent in June to 99.1 percent last month.

Food prices rose by 4.83 percent for an annual increase of 10.7 percent in July, with bread and grain prices increasing 4.22 percent month-on-month and 108 percent year-on-year.

The increase in housing expenses was 2.15 percent in July, down from 5.06 percent in June, bringing the annual rise to 98.49 percent, easing from the previous month’s 103.4 percent rise, data from the İTO showed.

The cost of eating out rose by 3.43 percent month-on-month and 77.6 percent year-on-year.

Clothing prices, which rose by 2.1 percent in June, were up 2.63 percent monthly. The annual rise in clothing prices, consequently, quickened from 53.1 percent to 62.2 percent.

Transport costs in the city plunged 4.55 percent last month after rising 5.2 percent in June.

According to the İTO data, the monthly increase in wholesale prices in Istanbul eased from 8.17 percent to 3.10 percent.

The annual increase in wholesale prices retreated from 87.98 percent to 87.95 percent.

The Turkish Statistical Institute (TÜİK) will release the nationwide inflation data for July on Aug. 3.

Consumer prices in the country increased by 4.95 percent in June, while the annual inflation rate accelerated from 73.5 percent in May to 78.6 percent in June.