February inflation in Istanbul has been announced!

The Istanbul Chamber of Commerce (ITO) has released the data for the Istanbul Wage Earners' Cost of Living Index and the Wholesale Price Index for February 2024.

Accordingly, in February 2024 in Istanbul, the Istanbul Wage Earners' Cost of Living Index, which is an indicator of retail price movements, increased by 4.07 percent compared to the previous month, while the Wholesale Price Index, which reflects wholesale price movements, increased by 4.64 percent.

The annual change rate, which shows the price changes in February 2024 compared to February 2023, was 76.58 percent in the Istanbul Chamber of Commerce (ITO) 1995-based Wage Earners' Cost of Living Index and 65.06 percent in the Wholesale Price Index.

DECREASE OBSERVED IN FOOD EXPENDITURES

In February 2024, compared to the previous month, retail prices saw an increase of 6.73 percent in culture, education, and entertainment expenditures, 5.58 percent in health and personal care expenditures, 4.98 percent in food expenditures, 4.65 percent in housing expenditures, 2.54 percent in household goods expenditures, and 0.14 percent in the other expenditures group, while a decrease of -1.51 percent was observed in the clothing expenditures group and -0.23 percent in transportation and communication expenditures.

In February 2024, compared to the previous month, wholesale prices saw an increase of 13.53 percent in the fuel and energy materials group, 11.26 percent in the chemical materials group, 7.55 percent in the construction materials group, 4.61 percent in the textiles group, 2.80 percent in the food products group, 1.69 percent in the raw materials group, and 1.27 percent in the metals group.