Türkiye raises natural gas prices amid inflation, wage hike expectations
Türkiye raised natural gas prices by 24.6 per cent for households and 7.86 per cent for industrial users on Wednesday.
The price was raised amid inflation concerns and expectations of upcoming adjustments to pensions and minimum wages.
The state-owned Petroleum Pipeline Corporation (BOTAS) announced the new tariffs on its website, stating that wholesale natural gas prices were adjusted in line with budgetary targets.
This price hike will not impact June’s inflation figures, as it took effect in July.
The Turkish Statistical Institute is set to release June inflation data on Thursday.
According to a survey conducted by the state-run Anadolu Agency, economists expect a slight drop in the annual inflation rate, from 35.41 per cent in May to 35.26 per cent in June.
Meanwhile, pensioners and minimum wage earners are expecting raises following the upcoming inflation data for June, although the government has yet to confirm any increase.
The government announced a 30 per cent increase in the minimum wage effective January 2025, raising it to 22,104 Turkish liras (about $555).
(Xinhua/NAN)
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