Erdogan casts the lira’s slide as an economic attack on Turkey by Western governments, financiers and ratings agencies. AFP / Vyacheslav OSELEDKO
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Turkey hikes gas and power prices by as much as 14 percent as lira crisis deepensANKARA: Turkey raised natural gas prices over the weekend by as much as 14 percent, two sources said, while the energy regulator announced a similar increase in electricity costs as a deepening currency crisis stokes inflation. Last month, Botas increased the price of natural gas for electricity production by 50 percent and by 9 percent for residential use.Likewise, Turkey's energy regulator said it would raise electricity prices by 14 percent for industrial use and 9 percent for households from Saturday. It increased prices by the same amount last month.Retail prices in Istanbul, Turkey's biggest city, surged 2.23 percent month-on-month in August, for a year-on-year increase of 14.99 percent, the Istanbul Chamber of Commerce said Saturday.
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