The Istanbul Chamber of Commerce (ICOC) reported that prices rose for 240 out of 336 consumer products in January compared to the previous month, while 49 products saw a decline.
According to the ICOC, significant price increases were recorded in healthcare and transportation services, suggesting rising operational costs and inflationary pressures in these sectors.
Similarly, rising education expenses reflected broader economic trends affecting tuition and childcare services. Food prices also surged in some areas, likely because of seasonal supply fluctuations and logistical challenges.
On the other hand, the decline in food prices, particularly for vegetables and cooking essentials, signified a seasonal surplus or improved supply conditions.Another category with a substantial price drop was clothing, likely because of post-holiday discounts or stock clearances.
Meanwhile, the decrease in hotel room rates reflected lower tourism demand following the peak season.
Products with highest price increases in Istanbul
Some of the other products that experienced price increases include:
| Product | Price Increase Rate (%) |
|---|---|
| Dental examination services | 66.67 |
| Literary books | 52.80 |
| Dental filling | 44.71 |
| Tooth extraction | 44.09 |
| Bridge-highway and tunnel toll | 43.89 |
| Parking fee | 40.00 |
| Urban public transport | 35.58 |
| Taxi | 35.00 |
| School bus fee | 34.96 |
| Green onion | 32.61 |
| Cucumber | 29.36 |
| Intercity bus ticket | 24.96 |
| Kindergarten and nursery fee | 22.22 |
| Lemon | 17.75 |
| Bread | 15.24 |
Products with highest price declines in Istanbul
Some of the products that recorded price decreases include:
| Product | Price Decrease Rate (%) |
|---|---|
| Cauliflower | -19.00 |
| Women’s sweater | -8.39 |
| Men’s sweater | -8.31 |
| Olive oil | -6.92 |
| Iron | -6.90 |
| Women’s cardigan | -6.33 |
| Spinach | -5.99 |
| Leek | -5.72 |
| Women’s shirt | -5.47 |
| Men’s jacket | -5.22 |
| Overnight hotel room rate | -3.52 |
Consumer prices in Istanbul surged by 48.4% on an annual basis in January, while wholesale goods prices rose by 2.83%, according to ICOC.
Source: turkiyetoday