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Turkey hikes energy prices, pressuring inflation
Imaduddin
30 Sep, 2014
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Copyright Reuters, 2014
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![](https://i.brecorder.com/images/2014/09/turkey-flag1.jpg">ISTANBUL: Turkey will hike electricity and natural gas prices by 9 percent from October, Energy Minister Taner Yildiz said on Tuesday, blaming a weaker currency for the price hikes in the heavily import-dependent country.</P><P>The hikes are expected to add 0.6-0.7 percentage points to inflation, analysts said. Inflation reached 9.54 percent in August, double the central bank's 5 percent year-end target.</P><P>Last week, the central bank left its key interest rates unchanged despite slowing economic growth, as it battles stubbornly high inflation and pressure on the lira in the face of an expected tightening in U.S. monetary policy.</P><P>)