Retail prices in Turkey's Istanbul rise 1.58 pct in Aug

Retail price inflation in Turkey's largest city Istanbul, increased 1.58 percent month-on-month in August as wholesale prices fell 0.95 percent in the same term, the Istanbul Chamber of Commerce announced on Monday. (UPDATED)

The annual rate of retail price inflation increased to 15.74 percent, while wholesales price inflation increased 11.76 percent according to the latest figures.

The figures also show a rise in retail prices of 6.15 percent and in wholesale prices at 8.89 percent in the first eight months of the year.

Turkish consumer price index increased 12.06 percent on a 12-month basis, as the produce price index rate over 12 months reached 18.41 percent according to the July figures.

The central bank halted three months of interest rate increases in August, at 16.75 percent after a surge in energy prices that drove up inflation worldwide faltered.