ITO announces: June inflation rate revealed

Istanbul's inflation for June has been announced. In June 2024, the Istanbul Wage Earners' Cost of Living Index, which serves as an indicator of retail price movements in Istanbul, increased by 3.42 percent compared to the previous month, while the Wholesale Price Index, which reflects wholesale price movements, increased by 3.85 percent.

The rate of change compared to the same month of the previous year, which shows price changes in June 2024 compared to June 2023, was 82.14 percent in the Istanbul Chamber of Commerce's (ITO) 1995-based Wage Earners' Cost of Living Index, and 60.49 percent in the Wholesale Price Index.

In June 2024, compared to the previous month, retail prices saw an increase of 8.01 percent in housing expenditures, 4.06 percent in transportation and communication expenditures, 2.66 percent in the food expenditures group, 2.50 percent in the culture, education, and entertainment expenditures group, 2.41 percent in the clothing expenditures group, 1.50 percent in household goods expenditures, and 0.54 percent in health and personal care expenditures; no increase was observed in the other expenditures group.

In June 2024, compared to the previous month, wholesale prices saw an increase of 14.63 percent in the chemical substances group, 8.05 percent in the textiles group, 7.37 percent in the raw materials group, 3.74 percent in the fuel and energy materials group, 3.06 percent in the construction materials group, and 1.84 percent in the food products group; a decrease of 1.38 percent was observed in the metals group.