Chamber of commerce reports Istanbul inflation rate as 73 percent
Ahead of the nationwide inflation data to be released by the government-run Turkish Statistical Institute (TÜİK) on April 3, the Istanbul Chamber of Commerce (ITO) has reported an annual inflation rate of 73.01 percent in March in the megacity.
Duvar English
The Istanbul Chamber of Commerce (ITO) has published the retail and wholesale price indices for March for the megacity.
According to its calculations, retail prices jumped 2.95% month on month in March for an annual rise of 73.01%.
Wholesale prices in the city jumped 4.96% from February for an annual rise of 74.22%, the ITO said.
These indices are used by economists as an indicator of nationwide inflation.
The government-run Turkish Statistical Institute (TÜİK) reported an annual inflation rate of 55.18 percent in February, whereas the independent inflation group ENAG put the figure at 126.91 percent.
TÜİK and ENAG will release the inflation data for March on April 3.