Consumer prices in Istanbul rise 3.2 percent in September
ISTANBUL
Consumer prices in Istanbul increased by 3.19 percent in September, according to data released by the Istanbul Chamber of Commerce (ITO).
The monthly pace of inflation accelerated compared to August’s 1.84 percent rise.
Despite the faster monthly increase, the annual inflation rate edged down from 40.83 percent in August to 40.75 percent in September, reflecting a base effect.
Since the beginning of the year, prices have climbed 30.1 percent.
Looking at expenditure groups, food prices rose by 3.85 percent on a monthly basis and 38.3 percent annually.
Housing costs in the country’s largest city increased by 2.28 percent in the month and 64 percent over the year. Clothing prices edged up 0.36 percent in September and were 39 percent higher than a year earlier.
Transportation prices advanced 4.4 percent monthly and 29.5 percent annually. Restaurant and hotel prices rose by 2.57 percent month-on-month and 35.22 percent year-on-year.
The Turkish Statistical Institute (TÜİK) will release nationwide inflation figures on Oct. 3. Economists surveyed by AA Finans expect the Consumer Price Index (CPI) to rise 2.47 percent month-on-month in September, a faster pace than August’s 2.04 percent increase.
Based on the average forecast, annual inflation, which was 32.95 percent in August, is projected to ease to 32.31 percent in September.
