Inflation in Istanbul accelerates to 3.3 percent in October
ISTANBUL
Consumer prices in Istanbul rose by 3.31 percent month-on-month in October, up from 3.19 percent in September, according to data released by the Istanbul Chamber of Commerce (İTO).
Annual inflation in Türkiye’s largest city edged higher to 40.84 percent last month, compared to 40.75 percent in September. Since the end of 2024, consumer prices have climbed by 34.4 percent.
Food and non-alcoholic beverage prices saw a monthly increase of 4.05 percent and an annual rise of 39.1 percent. Clothing prices surged by 17.3 percent in October alone, with a year-on-year increase of 35 percent.
Housing costs rose 2.2 percent from the previous month and 60.3 percent compared to October 2024. Transportation prices posted a modest monthly gain of 0.6 percent and an annual increase of 32.2 percent.
Hotel and restaurant prices advanced by 3.97 percent month-on-month and 37.3 percent year-on-year, İTO data showed.
The Turkish Statistical Institute (TÜİK) will unveil the nationwide inflation data for October today.
Türkiye’s consumer price index (CPI) is forecast to increase 2.7 percent in October, according to an AA Finans survey of economists, pointing to a marginal slowdown in annual inflation.
Estimates for the monthly rise ranged between 2 percent and 3 percent.
The survey’s median forecast implies that annual inflation would ease to 33.05 percent in October, down from 33.29 percent in September.
Economists’ year-end inflation forecasts stood between 31 percent and 33.06 percent, with the average expectation at 31.93 percent as of October.
Consumer prices had risen 3.23 percent monthly in September.
