Istanbul's annual inflation rate has been announced

According to data released by the Istanbul Chamber of Commerce, retail prices increased by 1.74 percent and wholesale prices by 0.82 percent in December 2024. For the year as a whole, retail prices rose by 55.27 percent, while wholesale prices increased by 40.64 percent.

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Istanbul's annual inflation rate has been announced

The Istanbul Wage Earners' Cost of Living Index increased by 1.74 percent in December compared to the previous month. During this period, the highest increase was observed in housing expenditures at 4.55 percent.

Culture, education, and entertainment expenditures rose by 2.34 percent, household goods expenditures by 1.13 percent, and clothing expenditures by 1.05 percent. Food expenditures increased by 0.93 percent, transportation and communication expenditures by 0.77 percent, health and personal care expenditures by 0.54 percent, and other expenditures by 0.15 percent.

CONSTRUCTION MATERIALS STAND OUT

The Wholesale Price Index recorded an increase of 0.82 percent in December 2024. Prices in the textile group rose by 4.26 percent, construction materials by 2.87 percent, and fuel and energy materials by 2.74 percent. While an increase of 1.18 percent was seen in food products and 0.48 percent in minerals, there was a decrease of 3.61 percent in the raw materials group.

For the full year of 2024, the ITO Wage Earners' Cost of Living Index closed the year with an increase of 55.27 percent, while the Wholesale Price Index showed an increase of 40.64 percent.