In Istanbul, retail prices increased by 3.69 percent and wholesale prices by 3.53 percent in October compared to the previous month. On an annual basis, the rate of change was 72.73 percent in retail and 64.04 percent in wholesale prices. Despite the slowing economy and monetary tightening steps taken by the Central Bank, inflation was still persistent in apparel, healthcare, food, household goods in October.
According to the 1995-based data of the Istanbul Chamber of Commerce (ITO), the Istanbul Wage Earners Livelihood Index, which is an indicator of retail price movements in Istanbul, increased by 3.69 percent compared to the previous month, while the Wholesale Price Index, which reflects wholesale price movements, increased by 3.53 percent.
In the statement, it was said as follows:
“In October 2023, compared to the previous month in retail prices; Clothing Expenditures increased by 15.33 percent, Health and Personal Care Expenditures by 4.58 percent, Food Expenditures by 4.28 percent, Household Goods Expenditures by 4.05 percent, Housing Expenditures by 1.82 percent, Other Expenditures by 0.08 percent, Culture, Education and Entertainment Expenditures by -1.38 percent and Transportation and Communication Expenditures by -2.33 percent.
In October 2023, wholesale prices increased by 5.22 percent in the Food Group, 4.57 percent in the Textile Group, 2.50 percent in the Construction Materials Group, 2.38 percent in the Chemicals Group, 1.95 percent in the Minerals Group, 1.73 percent in the Unprocessed Materials Group, and 1.33 percent in the Fuel and Energy Materials Group compared to the previous month.”