Istanbul's November inflation announced

The Istanbul Chamber of Commerce (ITO) has released its price indices for November.

In November 2023, the Istanbul Wage Earners' Cost of Living Index, which is an indicator of retail price movements in Istanbul, increased by 3.79 percent compared to the previous month, while the Wholesale Price Index, which reflects wholesale price movements, increased by 2.94 percent.

According to Istanbul Chamber of Commerce (ITO) data, the annual rate of change, which shows price changes in November 2023 compared to November 2022, was 73.89 percent in the Istanbul Chamber of Commerce's (ITO) 1995-based Wage Earners' Cost of Living Index, and 65.01 percent in the Wholesale Price Index.

According to the ITO, Istanbul's inflation in October was 3.69 percent monthly and 72.73 percent annually. Thus, inflation saw a limited increase in November compared to the previous month.

HIGHEST INCREASE IN CULTURE AND EDUCATION

In November 2023, retail prices compared to the previous month showed an increase of 5.53 percent in Culture, Education and Entertainment Expenditures, 4.95 percent in Housing Expenditures, 4.84 percent in Food Expenditures, 2.48 percent in the Clothing Expenditures group, 1.30 percent in Health and Personal Care Expenditures, 0.32 percent in Household Goods Expenditures, and 0.15 percent in the Other Expenditures group, while a decrease of -0.52 percent was observed in Transportation and Communication Expenditures.

In November 2023, wholesale prices compared to the previous month showed an increase of 14.39 percent in the Construction Materials group, 5.03 percent in the Textile Group, 2.87 percent in the Chemical Substances Group, 2.59 percent in the Metals Group, and 1.88 percent in the Fuel and Energy Materials Group, while a decrease of -0.87 percent was observed in the Unprocessed Materials Group.