Istanbul inflation slows to 1.8 percent in August: Chamber
ISTANBUL
Consumer inflation in Istanbul eased in August, with the Istanbul Chamber of Commerce (İTO) reporting a 1.84 percent monthly increase in its Consumer Price Index, down from 2.62 percent in July.
The annual inflation rate also declined, falling from 42.48 percent to 40.83 percent.
Prices in the city of over 15 million residents have risen 26.07 percent since the end of 2024, according to İTO.
In August, food and drink prices climbed 2.28 percent month-on-month and 35.4 percent year-on-year, while housing costs rose 2.48 percent monthly and 68.89 percent annually.
Clothing prices dropped 2.95 percent from July, though the annual increase stood at 41.08 percent. Health prices remained flat on a monthly basis but were up 41.23 percent year-on-year.
Transportation costs edged up 0.18 percent in August and 21.66 percent annually. Restaurant and hotel prices increased 0.39 percent monthly and 35.55 percent year-on-year.
The Turkish Statistical Institute (TÜİK is scheduled to release the nationwide inflation data on Sept. 3.
Türkiye’s consumer prices likely rose 1.79 percent in August, according to a survey of 25 economists conducted by AA Finans.
Based on this average, annual inflation is projected to decline to 32.63 percent in August.
