Consumer prices in Istanbul rise 1.8 percent in June

ISTANBUL

The monthly consumer price inflation in Istanbul accelerated from 1.57 percent in May to 1.77 percent in June, according to data from the Istanbul Chamber of Commerce (İTO) on July 1.

The annual inflation in the country’s largest city slowed from 45.7 percent to 44.38 percent.

Food prices rose by 1.93 percent last month from May for an annualized increase of 36.9 percent, while transport costs in the city increased by 1.67 percent month-on-month and 33.2 percent year-on-year.

The monthly and annual increases in housing prices were 2.7 percent and 77.2 percent, respectively.

Restaurant and hotel prices in Istanbul, which is a popular destination among foreign travelers, rose 1.98 percent last month compared to May, which brought the annual increase to 38.6 percent.

The Turkish Statistical Institute (TÜİK) will release the nationwide inflation data for June on July 3.

Economists polled by Anadolu Agency forecast that consumer prices increased by 1.53 percent month-on-month in June.

According to the average estimate from economists participating in the survey, Türkiye’s annual inflation rate is projected to ease from 35.41 percent to 35.26 percent in June.

Meanwhile, economists forecast an end-of-year inflation rate of 30.41 percent for 2025.