Istanbul's July inflation figures announced

The Istanbul Chamber of Commerce (ITO) has announced Istanbul's inflation data for July.

In July 2024, the Istanbul Wage Earners' Cost of Living Index, which indicates retail price movements, increased by 4.21 percent compared to the previous month, while the Wholesale Price Index, which reflects wholesale price movements, increased by 1.04 percent.

The annual rate of change, showing price variations in July 2024 compared to July 2023, was 72.80 percent in the Istanbul Chamber of Commerce (ITO) 1995-based Wage Earners' Cost of Living Index and 55.12 percent in the Wholesale Price Index.

In July 2024, compared to the previous month, retail prices saw an increase of 10.76 percent in transportation and communication expenditures, 6.72 percent in culture, education, and entertainment expenditures, 6.60 percent in health and personal care expenditures, 4.44 percent in food expenditures, 4.23 percent in housing expenditures, 2.78 percent in other expenditures, and 1.52 percent in household goods expenditures; a decrease of 2.04 percent was observed in the clothing expenditures group.

In July 2024, compared to the previous month, wholesale prices saw an increase of 7.48 percent in the construction materials group, 5.02 percent in the textiles group, 2.90 percent in the fuel and energy materials group, 1.88 percent in the food products group, and 0.90 percent in the chemical substances group; a decrease of 1.94 percent was observed in the metals group and 4.62 percent in the raw materials group.

News Source: İHA