Istanbul Chamber of Commerce explains new inflation rates
.The Istanbul Chamber of Commerce announced the inflation rate in the city Turkish Statistical Authority.
Inflation had reached its highest level since 1998. Retail prices rose by 99.9 percent annually.
According to the Chamber of Commerce updates in August, Istanbul's retail price movements index rose by 2.29 percent and wholesale prices rose by 6.90 percent month-on-month.
Annually, the wage and living wage index rose by 99.91% and the wholesale price index by 98.09%.
When compared to last month's retail prices, there was a 13.99 percent increase in culture, education and entertainment expenditures, 3.99 percent in health and personal care expenses, 2.74 percent in household goods expenses, 2.70 percent in food spending, 0.82 percent in housing expenditures, and 0.06 percent in other expenses.
In wholesale prices compared to the previous month, there was an increase of 11.97 percent in the group of unprocessed materials, 9.78 percent in the group of foodstuffs, 6.00 percent in the group of mines, 3.26 percent in the group of building materials, 2.12 percent in the group of textiles, and 1.58 percent in the group of chemicals, fuels and energy materials. In the group, an increase of 0.44 percent was observed
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