Turkey hikes consumer electricity prices by 15 pct

Turkey's Turkeys Energy Market Regulatory Authority (EPDK) on Wednesday announced a hike to consumer electricity prices by 15 percent as of Thursday.

The increase, in response to rising costs, arrives as inflation registered at 16.6 percent in May. 

Inflation in Turkey is under pressure after the lira fell to a record low against the dollar this month, prompting manufacturers to increase prices at a faster pace.

The new rate effective July 1 will be 91.56 lira ($10.51) per 100 kilowatt-hours (kWh), Diken news site said.

Electricity prices in Turkey have gone up by more than 70 percent during the past three years.

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