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Turkey raises electricity, gas prices for businesses and homes

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The Turkish government increased electricity and natural gas prices on Friday, adding to the financial strain on households and businesses amid continuing inflation.

The Energy Market Regulatory Authority announced that electricity prices for residential consumers rose by 25 percent.

Rates for the public and private service sectors increased by 15 percent, while industrial users saw a 10 percent hike.

Prices for agricultural electricity use also climbed by 12.4 percent.

Following the change, a household consuming 100 kilowatt-hours per month will now pay 259.04 Turkish lira, or about $7.

State-run energy company BOTAŞ also announced a 20 percent increase in natural gas prices for industrial use.

Natural gas used for electricity production will now cost 24.2 percent more.

Prices for residential gas use remained unchanged.

The government says the hikes reflect rising costs in energy production and distribution.

The latest increases come at a time when many Turks are struggling with the high cost of living.

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