ITO announces: Istanbul's inflation rate revealed

According to the statement made by the Istanbul Chamber of Commerce, in March 2024 in Istanbul, the Wage Earners' Cost of Living Index, which is an indicator of retail price movements, increased by 3.93 percent compared to the previous month, while the Wholesale Price Index, which reflects wholesale price movements, increased by 3.78 percent.

The statement made by the ITO is as follows:

"The rate of change compared to the same month of the previous year, which shows price changes in March 2024 compared to March 2023, was 78.25 percent in the Istanbul Chamber of Commerce's (ITO) 1995-based Wage Earners' Cost of Living Index, and 63.21 percent in the Wholesale Price Index.

In March 2024, compared to the previous month, retail prices saw an increase of 8.96 percent in the Clothing Expenditures group, 8.66 percent in the Other Expenditures group, 6.01 percent in Household Goods Expenditures, 3.90 percent in Housing Expenditures, 3.62 percent in Food Expenditures, 3.05 percent in Health and Personal Care Expenditures, 1.06 percent in Transportation and Communication Expenditures, and 0.20 percent in Culture, Education, and Entertainment Expenditures. 

In March 2024, compared to the previous month, wholesale prices saw an increase of 7.85 percent in the Metals group, 5.20 percent in the Foodstuffs group, 3.30 percent in the Raw Materials group, 2.65 percent in the Chemical Substances group, 0.83 percent in the Construction Materials group, and 0.43 percent in the Fuel and Energy Materials group. No change was observed in the Textiles group."