Statement on natural gas price hikes from Fatih Karahan

Central Bank of the Republic of Turkey (TCMB) Governor Fatih Karahan held a press conference today at the Inflation Report presentation. Karahan announced the year-end inflation forecast as 36 percent.

Responding to a journalist's question after the press conference, Karahan was asked: 

"In your presentation, you specifically drew attention to January regarding the rise in inflation, but we have local elections ahead. Energy prices have not been increased for a long time. It is being emphasized that these increases are being postponed until after the elections. What will be the impact of an increase in natural gas and electricity prices, in particular, on inflation after the elections? You expect a decline after May, but what will be the effect of the price hikes postponed until after the elections?"

He responded to the question as follows:

"Naturally, when we make our inflation forecasts, we include projections for potential price hikes in many items, including those for managed and regulated products. Energy prices will certainly be at the forefront here. Adjustments are expected in electricity and natural gas prices." he stated. 

News Source: 12punto