Monthly inflation in Istanbul accelerated in October

İTO announced the October data of Istanbul Consumer Price Index and Wholesale Price Index based on İTO 2023=100.

Accordingly, the ITO Istanbul Consumer Price Index, which is an indicator of retail price movements in the city, increased by 2.47 percent in October compared to the previous month, and the Wholesale Price Index, which reflects wholesale price movements, increased by 1.20 percent.

Compared to the same month last year, the rate of change was 32.47 percent in retail prices and 25.51 percent in wholesale prices.

The highest increase was in the "clothing and shoes" spending group

The highest rate of increase in the Istanbul Consumer Price Index was seen in the "clothing and shoes" expenditure group with 10.60 percent in October compared to the previous month. It is followed by "entertainment and culture" with 5.32 percent, "communication" with 5.05 percent, "food and non-alcoholic beverages" with 2.58 percent, "housing" with 2.24 percent, "restaurants and hotels" with 1.87 percent, "various goods and services" with 1.82 percent, "health" with 1.80 percent, "household goods" with 1.67 percent, The group was followed by "education" expenditures with 1.52 percent and "transportation" expenditures with 0.45 percent. There was no change in the "alcoholic beverages and tobacco" expenditure group.

The change in the Istanbul Consumer Price Index in October was affected by the upward price changes seen in the products in the "clothing and shoes" expenditure group due to the effect of the winter season, price changes due to market conditions in some products and services in the "entertainment and culture", "communications", "housing", "restaurants and hotels" and "health" expenditure groups, and upward price movements due to the seasonal change in the "food and non-alcoholic beverages" expenditure group.

The highest price increase in wholesale goods is in chemicals

The group in which wholesale prices increased the most in October compared to the previous month was "chemical materials" with 3.44 percent, followed by "unprocessed materials" with 2.31 percent, "construction materials" with 1.34 percent, "foodstuffs" with 1 percent, "fuel and energy materials" with 0.53 percent and "minerals" with 0.46 percent. No change was observed in the "Textiles" group.

The annual increase was 41.97 percent in mines, 26.92 percent in foodstuffs, 25.60 percent in fuel and energy, 23.48 percent in construction materials, 16.36 percent in unprocessed materials, 13.48 percent in textiles and 10.45 percent in chemicals.