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A seminar titled “Inflation and the Cost of Living Index in Istanbul” was organized by the Department of Economics of the Faculty of Political Sciences of Istanbul Medeniyet University. Organized in collaboration with Istanbul Chamber of Commerce Strategic Research Center (ITOSAM), the seminar was held on December 25, 2024 in the Blue Hall of the Central Classroom Building.

Dean of the Faculty of Political Sciences and Head of the Department of Economics Prof. Dr. Faruk Bal attended the seminar, along with many academicians and students.

The event began with a speech by Dr. Ufuk Özen, Director of İTOSAM. Özen explained the concept of inflation in detail to the participants and after providing a basic definition of inflation, he provided a general framework for economic dynamics by explaining the different types of inflation with examples. He also touched on the technical details of how inflation is calculated and emphasized the concept of the price index. He addressed the causes and consequences of inflation and explained the effects of price increases on the economy in a simple and understandable language. He also drew attention to the policy tools that governments can implement in the fight against inflation and emphasized the importance of these policies in ensuring economic stability.

In the second part of the event, ITOSAM Statistics Unit Manager Tolga Yıldırım took the floor. Before giving information about Istanbul's inflation calculation process, Yıldırım made a presentation about the history of inflation measurement. Going into the details of inflation calculations for Istanbul, he discussed in detail the field research and technical methods used by ITOSAM. He also mentioned the devoted work of his team in the creation of the price index consisting of 242 items. After his presentation, Yıldırım answered the questions of the participants and clarified the points of interest regarding the processes used in inflation measurement.

The seminar contributed to an in-depth understanding of inflation and the cost of living index in Istanbul. Participants gained important information about the economic dynamics of inflation and the calculation processes specific to Istanbul. The event, organized in cooperation with ITOSAM, emphasized the importance of policy tools in combating inflation and once again emphasized the value of research conducted to ensure economic stability. The seminar, which provided a productive learning opportunity for all participants, also provided a free vocational training opportunity especially for our students who want to pursue a career in economics.