Inflation soars 6.3% in Istanbul

The Istanbul Wage Earners Cost of Living Index (WECLI), which indicates the movement of retail prices in Istanbul, rose by 6.29% in March, compared to the previous month, according to the Istanbul Chamber of Commerce (ITO). The Wholesale Price Index, which reflects wholesale prices in the city, increased by 7.65% in the same period. Istanbul inflation is considered the pioneering data for the overall inflation of Turkey. The 1995-based Istanbul WECLI jumped 63.25% and the Wholesale Price Index soared 65.59% in March, year over year. Retail prices in Istanbul surged by 17.40% in culture, education and recreation expenditures, 8.99% in household equipment expenditures, 8.12% in transportation and communication expenditures, 6.16% in food expenditures, 5.02% in housing expenditures, 4.06% in clothing expenditures, 0.99% in health and personal care expenditures, and 0.42% in other expenditures group in March, month-over-month. Wholesale prices in the city rose by 21.56% in the unprocessed items group, 6.13% in the food items group, 5.98% in the mining group, 3.66% in the chemical items group, 2.55% in the building materials group, 1.79% in fuel and energy items group, and 1.67% in the textile group in the same period.