Retail prices in İstanbul increased by 1.14% month-on-month in June, according to data released by the İstanbul Chamber of Commerce (İTO) today. Wholesale prices in the city rose by 3% over the same period.
The data shows an annual inflation rate of 35.94% for retail prices and 24.65% for wholesale prices compared to June of last year.
Among retail sectors, communication saw the highest monthly increase at 4,28%. Prices rose by 4.20% for alcoholic beverages and tobacco, 3.14% for household goods, 2.37% for housing, 1.66% for miscellaneous goods and services, and 1.25% for restaurants and hotels.
Health expenditures increased by 0.75%, food and non-alcoholic beverages by 0.65%, and culture and entertainment by 0.12%. Prices for education remained unchanged, while clothing and footwear fell by 2.21% and transportation decreased by 0.95%.
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İTO stated that market conditions drove the changes in communication, alcohol, tobacco, and household goods. Market conditions and partial seasonal effects influenced housing, food, and non-alcoholic beverages, while clothing, footwear, and transportation experienced downward trends.
In the wholesale sector, raw materials recorded the highest monthly price rise at 8.18%. Fuel and energy prices increased by 3.23%, food products by 2.85%, construction materials by 0.79%, minerals by 0.51%, and chemicals by 0.14%. Textiles showed no price change.
On an annual basis, wholesale prices for minerals surged by 33.51%. Construction materials rose by 28.64%, food products by 26.93%, fuel and energy by 22.58%, textiles by 15.97%, raw materials by 14.97%, and chemical products by 9.77%. (HA/VK)
Source: BIANET
