Markets

Turkey hikes natural gas prices 9pc from October

Published September 30, 2014 Updated September 30, 2014 08:39am

1 min

By Saad Jabri

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ISTANBUL: Turkey will hike electricity and natural gas prices by 9 percent from October, Energy Minister Taner Yildiz said on Tuesday, blaming a weaker lira currency for the price hikes in the heavily import-dependent country.

The hikes are expected to put further pressure on already stubborn inflation. Much of Turkey's electricity is generated using natural gas, meaning the price rise is likely to have a significant impact on household energy bills.

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