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Istanbul’s consumer prices moved up faster in April, rising 3.7% on a monthly basis, while the annual inflation rate edged down to 36.9%, data from the Istanbul Chamber of Commerce (ICOC) showed on Friday.
On the producer side, Istanbul’s wholesale price index rose 4.3% month-on-month and 22.3% annually.
Price pressures were led by clothing and footwear, which surged 11.09% compared with the previous month. Housing costs followed with an 8.80% increase, while communication prices climbed 6.49%.
The only category to decline was recreation and culture, which slipped 0.12% during the month.
Public-driven price adjustments in housing and communication, seasonal shifts in food prices, and broader market dynamics across other categories all played a role in the monthly uptick, the chamber noted.
Textiles recorded the steepest monthly increase in wholesale prices at 10.62%, followed by raw materials at 9.15% and chemical products at 7.83%.
Attention now turns to Türkiye’s official inflation figures, due on May 4, with forecasts pointing to a monthly rise near 2.9%, which could pull the annual rate down to around 30.8%, according to the Central Bank of the Republic of Türkiye (CBRT) survey.
Separate estimates compiled by AA Finans suggest monthly inflation averaging 3.2%, potentially pushing the annual figure slightly higher to 31.1%.
In March, inflation was largely driven by rising oil prices during the Hormuz crisis following the outbreak of the Iran war, with energy prices climbing 4.9% on the month, while overall monthly inflation stood at 1.9%, bringing the headline rate to 30.9%.
The Turkish central bank held its policy rate at 37% last week, flagging early signs of an uptick in the underlying inflation trend for April amid ongoing energy price pressures.
The bank’s household expectations survey also indicated that energy and food prices posted the strongest increases in April.
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