Inflation in Istanbul calculated at 99 percent: Gap with TURKSTAT further opened  

According to the data of the Istanbul Chamber of Commerce (ITO), consumer prices in the city increased by 99.11 percent compared to last year. The monthly increase in inflation in Istanbul is 4.09 percent.

ITO has published the retail and wholesale price indices for July. The upward momentum in inflation indicators in Istanbul continued in July.

The annual change in the retail price index (99.11 percent) has reached the highest level since February 1998.

The difference between Istanbul inflation and official inflation determined by the Turkish Statistical Institute (TURKSTAT) is increasing every month.

According to TURKSTAT, inflation in June was recorded at 78.6 percent on an annual basis and 4.95 percent on a monthly basis. The ITO index was up 94.2 percent.