Page 22 - TURKRptJun22

4.2 Inflation
Rental prices across Turkey leapt nearly 96% over the past year to TRY 3,746 ($229) on average in April.
On June 1, Turkey’s government-run natural gas monopoly Botas hiked gas prices for industry by 10%, for power plants by 16% and for households by 30%.
As a result, gas prices rose by 601% y/y for industry, 630% y/y for power plants and 146% y/y for households (see chart below).
As of June 1, Brent was up 67% y/y while Dutch TTF Natural Gas Futures was higher by 248% y/y. Year on year, the USD/TRY pair was up 93%.
Turkish households pay Turkish lira (TRY) 4 for a cubic-metre (m3) of gas while Bulgarian households pay TRY 21, according to Botas.
Also on June 1, Turkey’s energy watchdog EPDK hiked electricity price for industry by 27%, for businesses by 28% and for households by 18%.
As a result, the electricity price was up 170% y/y (chart below).
22 TURKEY Country Report June 2022 www.intellinews.com