On a month-on-month basis prices rose by 1.78 percent, ITO said on its website.
Turkey’s inflation rate is falling after a currency crisis last year crimped demand for goods and services, forcing manufacturers to slow price increases. Inflation in Turkey’s largest city has historically proven a gauge for the direction of nationwide inflation, but trends in the two measures have tended to diverge in recent months.
October wholesale price inflation for Istanbul was an annual 6.77 percent, ITO said, accelerating from 5.58 percent in September. Month-on-month, prices rose by 1.5 percent, it said.
Turkey’s nationwide consumer price inflation slowed to 9.3 percent in September from 15 percent in August, the Turkish Statistical Institute reported early last month. Producer price inflation sank to 2.5 percent from 13.5 percent, it said.
The government will announce October inflation figures on Monday.