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Inflation in Istanbul slowed on an annual basis in October, but monthly retail price growth accelerated to 2.5% from 2.1% in September, partly driven by seasonal demand for clothing.
Annual retail inflation eased to 32.5% from 33.6%, according to data from the Istanbul Chamber of Commerce (ICOC).
Wholesale prices, a measure of producer inflation, rose 1.2% month over month, down from 2% in September, while annual wholesale inflation slowed to 25.5% from 25.9%.
Clothing and footwear prices recorded the sharpest monthly increase in October, jumping 10.6% as the winter season pushed up costs.
Entertainment and culture prices rose 5.3%, followed by communication at 5.1%. Food and nonalcoholic beverages increased 2.6%, while housing costs climbed 2.2%.
Prices also edged up at restaurants and hotels by 1.9%, miscellaneous goods and services by 1.8%, health care by 1.8%, household goods by 1.7% and education by 1.5%.
Transportation saw the smallest increase, at 0.45%, while prices for alcoholic beverages and tobacco remained unchanged.
Among wholesale goods, chemical products recorded the steepest monthly increase, rising 3.4% in October. Unprocessed materials followed with a 2.3% increase, while construction materials rose 1.3%.
Food product prices climbed 1%, fuel and energy prices increased 0.5%, and metal prices edged up 0.5%. Textile prices remained unchanged.
Türkiye's nationwide inflation figures for October are due to be released by the Turkish Statistical Institute (TurkStat) on Tuesday, Nov. 3.
Annual consumer inflation stood at 29.7% in September, falling below 30% for the first time since November 2021, while monthly inflation came in at 1.8%.
The upcoming figures will show whether the annual disinflation trend continues as monthly price pressures build ahead of winter.
In its latest policy meeting summary, released after its October meeting, at which it resumed its easing cycle with a 100-basis-point cut following a nine-month pause, the Central Bank of the Republic of Türkiye (TCMB) said inflation was likely to pick up in October, driven by higher food and energy prices.
The central bank's latest market participants survey also put monthly inflation expectations for October at around 2.1%, implying an annual inflation rate of 29.2%.
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