ISTANBUL, July 1 — Consumer prices in Istanbul increased 1.77% in June from the previous month, while annual inflation climbed to 44.38%, according to data released by the Istanbul Chamber of Commerce (ITO) on Tuesday.
The chamber’s Istanbul Consumer Price Index (ITO-Istanbul CPI), which tracks retail prices in Türkiye’s largest city, also showed that prices have risen 20.63% since the beginning of the year.
Among the main expenditure groups, the sharpest monthly increase was recorded in housing expenditures, reflecting continued pressure from rent and utility costs. Other categories posting notable price increases included household goods, transportation, restaurants and hotels, and food and non-alcoholic beverages.
The ITO’s inflation figures are closely watched by investors and economists as an early indicator of nationwide consumer price trends ahead of the official inflation data to be published by the Turkish Statistical Institute (TurkStat) later this week. Economists surveyed by Anadolu Agency expect Türkiye’s annual inflation rate to ease slightly in June to around 32.2%, with official data scheduled for release on July 3.
While the ITO index covers only Istanbul, the country’s largest commercial hub, it often provides an early signal of broader inflation dynamics across Türkiye.
Source: Patronlar Dünyası/ Prepared by: İlayda Gök