Economist Kara reveals striking increase in natural gas prices: Since March 2024...

Economist and former Chief Economist of the Central Bank of the Republic of Turkey (TCMB) Hakan Kara pointed to the natural gas prices, which were raised by 25 percent as of today, and stated that natural gas prices have increased by 149 percent since March 2024, when interest rates were raised to 50 percent with the goal of fighting inflation.

Following the 25 percent natural gas hike announced hours ago, economist Kara made statements on his X account.

Kara stated that since the date when the weekly repo rate, which peaked at 50 percent in March 2024 as part of the fight against inflation, was seen, natural gas prices have increased by 149 percent.

With Mehmet Şimşek taking over the economic management in June 2023, interest rates were gradually increased as part of the "anti-inflation program."

Interest rates reached their peak of 50 percent in March 2024. Currently, the weekly repo rate set by the Central Bank stands at 46 percent.

Kara's post is as follows:

"Since March 2024, when interest rates were raised to 50 percent for the purpose of fighting inflation, the price of natural gas has been increased by 149%."

News Source: 12punto