Istanbul's inflation rises to 11.79 percent due to transportation hikes

The annual inflation in Istanbul, Turkey’s largest city, has risen to 11.79 percent, according to the Istanbul Wage Earners’ Livelihood Index prepared by the Istanbul Chamber of Commerce (ITO).

The livelihood index rose by 2.16 percent in May compared to April, while the Wholesale Prices Index rose by 0.97 percent, the ITO said on Monday, bringing Istanbul’s inflation rate for retail to 11.79 and 6.83 percent for wholesale.

T24 pinned rise in transportation spending as the source of Istanbul’s inflation spike.

“In May, retail prices for transportation spending increased by 9.39 percent,” compared with April, the news site said.

Another notable increase was in clothes spending, at 7.77 percent.