ITO announces: Istanbul inflation exceeds 82%!

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

Accordingly, the Istanbul Wage Earners' Cost of Living Index, which is an indicator of retail price movements in the city, increased by 3.59% in May compared to the previous month, while the Wholesale Price Index, which reflects wholesale price movements, increased by 2.59%.

When the data in question is examined on an annual basis, it was observed that the rate of increase was 82.20% in retail and 61.21% in wholesale.

CHANGES BY SECTOR

In May, compared to the previous month, retail prices saw an increase of 7.86% in culture, education, and entertainment expenditures, 7.07% in housing expenditures, 6.76% in the clothing expenditure group, 3.48% in household goods expenditures, 2.35% in food expenditures, and 1.36% in other expenditures, while there was a decrease of 0.13% in health and personal care expenditures and 0.45% in transportation and communication expenditures.

In wholesale prices, an increase of 8.31% was observed in the unprocessed materials group, 5.13% in the minerals group, 4.28% in the construction materials group, 1.41% in the food products group, and 0.09% in the fuel and energy materials group, while a decrease of 7.40% was observed in the chemical materials group. There was no change in the textiles group.

News Source: AA