Istanbul retail price inflation accelerates
Istanbul retail price inflation accelerated to an annual 18.3 percent in February from 18 percent the previous month.
Monthly inflation was 0.98 percent, according to a statement by the Istanbul Chamber of Commerce. Food prices rose 1.45 percent month-on-month from January and clothing prices climbed 1.27 percent, it said. Transport inflation fell 0.03 percent.
Investors in Turkey are looking for further signs that inflation is slowing following a currency crisis that peaked in August. Nationwide consumer price inflation edged up to 20.4 percent in January from 20.3 percent in December, largely due to a surge in food prices. The rate was 10.4 percent in January last year and 25.2 percent in October, a 15-year high.
Wholesale prices in Istanbul increased an annual 23 percent compared with 22.95 percent in January. They rose by 0.95 percent month-on-month, the business group said.
Nationwide inflation data for February will be published by the State Statistical Institute on Monday.