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Retail prices in Istanbul increased by 3.9% in September, while the annual inflation rate reached 59.18%, according to the latest data from the Istanbul Chamber of Commerce (ITO).
Wholesale prices also saw a notable rise, increasing by 4.67% on a monthly basis.
The ITO's 1995-based Wage Earners’ Cost of Living Index, which tracks retail price movements, registered a 59.18% increase in September compared to the same month in 2023.
Meanwhile, the Wholesale Price Index (WPI), which reflects wholesale price movements, showed a 47.89% annual increase.
The data revealed significant changes across various sectors for September:
Istanbul Chamber of Commerce
Istanbul Wage Earners Living Index (1995=100)
Istanbul Wage Earners Living Index
Istanbul Wage Earners Living Index
Wholesale Price Index (1963=100)
Wholesale Price Index
Wholesale Price Index
September 2023
August 2024
September 2024
September 2023
August 2024
September 2024
Compared to previous month (%)
5,46
1,73
3,90
3,94
0,98
4,67
Compared to previous year-end (%)
56,96
37,50
42,87
49,30
29,60
35,65
Compared to the same month of the previous year (%)
73,18
61,57
59,18
67,79
46,87
47,89
Istanbul Chamber of Commerce data.
In the wholesale sector, the following changes were observed in September:
These increases reflect continued inflationary pressures in Istanbul, affecting both retail and wholesale prices, which have led to a higher cost of living and operational expenses for businesses across the city.
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