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Istanbul’s annual inflation decelerated sharply in June to 44.38%, down from 46.57% in May, the Istanbul Chamber of Commerce (ICOC) announced on Tuesday, just days before the release of Türkiye’s official nationwide figures.
The ICOC’s data, which reflect consumer price changes specific to Istanbul, signaled a possible continuation of the broader downward trend in Türkiye’s inflation.
Türkiye’s annual inflation stood at 35.41% in May, marking a continuous year-over-year decline from the peak of 75.5% recorded in May 2024.
The chamber’s data showed that retail prices rose by 1.77% month-on-month in June, while wholesale prices increased by 1.93%. The monthly pace remains relatively contained compared to previous months.
Housing and household goods were the main contributors to the monthly rise in retail inflation. Notably, prices in the housing group climbed by 2.70%, while household goods rose by 2.57%. Increases were also observed in food and non-alcoholic beverages, restaurants and hotels, and transport services, highlighting continued cost pressures in essential and service-related categories. Entertainment and culture was the only major group to register a slight monthly decline.
ICOC stated that movements in housing-related items, publicly regulated services, and seasonal food prices were particularly influential in determining June’s overall index.
On the wholesale side, construction materials posted the most significant monthly increase at 6.92%, followed by gains in minerals and energy products. Annually, construction input costs rose sharply, with building materials up by 77.22%—a figure that underscores ongoing inflationary pressure in the production chain despite the general slowdown.
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