Newsletters
Consumer price growth in Istanbul picked up to 2.1% in July from the previous month as higher medical and transport costs pushed prices higher, data from the Istanbul Chamber of Commerce (ICOC) showed.
Thus, annual inflation in the city eased to 35.2% in July, while the 12-month average increase stood at 37.7% and the year-to-date change in prices was 21.6% from the end of 2025. The monthly inflation rate had slowed to about 1.1% in June, bringing the annual rate to roughly 35.9%.
Meanwhile, wholesale prices, a closely watched gauge of producer inflation, rose 1.6% in July from the previous month, bringing the annual wholesale inflation rate to 25.2%.
ICOC attributed the monthly increase to price hikes for some healthcare and communication services, the latest fare increase in public transport, market-driven changes in recreation, culture and housing, and seasonal effects on food prices.
Healthcare recorded the largest monthly increase among the main spending groups, climbing 9.8%. Transportation followed with a 4.4% rise, while communication prices increased 3.7%.
Recreation and culture prices rose 2.5%, housing gained 2%, household goods increased 1.6%, restaurants and hotels climbed 1.5%, education advanced 1.5%, food and non-alcoholic beverages rose 1.3%, miscellaneous goods and services increased 1%, and alcoholic beverages and tobacco edged up 0.8%.
Clothing and footwear was the only major category to post a decline, slipping 0.7% from the previous month.
The data comes ahead of the release of nationwide inflation figures by the Turkish Statistical Institute (TurkStat) on Monday, July 3, offering an early indication of broader price trends across the country.
While the ICOC index covers only Istanbul and differs from TurkStat's methodology, the city accounts for nearly one-fifth of Türkiye's population and often provides an early signal of broader inflationary pressures.
The Central Bank of the Republic of Türkiye's (CBRT) Survey of Market Participants, released in mid-July, showed monthly inflation was expected to accelerate to 1.7% from 1% in June, while annual inflation was projected to ease to 31.6% from 32.1% on favorable base effects.
A recent poll by Anadolu Agency lifted the monthly change expectations to around 1.8%, which would lower the annual rate to 31.8%.
Türkiye's annual inflation fell to 30.6% at the end of 2025 before climbing to 32.6% in May as food prices surged earlier this year amid an adverse weather-driven supply shock and energy costs rose following the Iran war.
Set as preferred source
Set as preferred source
1 min read
1 min read
