Istanbul’s inflation reaches 100 percent in August

According to ITO data, consumer prices in Istanbul increased by 99.91 percent year-on-year in August and reached the peak of the last 24 years.

Istanbul Chamber of Commerce (ITO) announced the Istanbul Wage Earners’ Living Index for August 2022. Accordingly, wholesale prices in Istanbul increased by 98.09 percent year-on-year in August. Consumer prices in Istanbul increased by 99.91 percent year-on-year in August and reached the peak of the last 24 years.

9.78 PERCENT MONTHLY INCREASE IN WHOLESALE FOOD

According to ITO data, in August, the Istanbul Wage Earners’ Living Index, which is an indicator of retail price movements in Istanbul, increased by 2.29 percent per month, wholesale prices increased by 6.90 percent.

On an annual basis, Wage Earners recorded an increase of 99.91 percent in the Living Index and 98.09 percent in the Wholesale Prices Index.

Increase in retail prices compared to the previous month were as follows; Culture, Education and entertainment 13.99 percent, health and personal care 3.99 percent, household spending 2.74 percent, food 2,70 percent, housing 0.82 percent, clothing 3.16 percent, transportation and communication expenses 1.17 percent.