What matters on Monday, January 3

The new year has brought along new price hikes. Electricity prices were sharply raised by 52-130% on average for households, industrial and commercial users, according to the Energy Market Regulatory Authority (EPDK).  The institution said electricity prices were increased by around 50% for lower-demand households for 2022, while they were increased by more than 100% for high-demand commercial users. Natural gas prices, meanwhile, jumped 25% for residential use and 50% for industrial use in January, according to the BOTAS Petroleum Pipeline Corporation. BOTAS also said the price rise was 15% up for electricity-generating industrial use.

Moreover, the price of gasoline, diesel fuel, and liquefied petroleum gas (LPG) has also been increased by TRY 0,61, TRY 1.29, and TRY 0.78, respectively, according to the Energy Oil Gas Supply Stations Employers’ Union (EPGIS).

In the meantime, the Ministry of Transportation and Infrastructure has converted the one-way tolls of the 15 July Martyrs Bridge and Fatih Sultan Mehmet Bridge into two-way tolls. With the new regulation, the one-way toll of these bridges has been set as TRY 8.25 for cars. The toll for Eurasia Tunnel has been raised by TRY 7.00 from TRY 46 to TRY 53 for the new year.

Vehicle inspection prices have been raised by 36% from TRY 372 to TRY 507 as of January 1, 2022.

On the other hand, the Turkish Statistical Institute (TurkStat) released the December inflation, which concerns millions of people, notably workers, civil servants, and retirees. The annual inflation rose by 36.08%, while the Consumer Price Index (CPI) increased monthly by 13.58% in December. With these numbers, the inflation has also become clear for July-December 2021. The 6-month inflation figure, which is taken into account in collective agreements, will directly and indirectly, affect the income of millions of people, especially workers, civil servants, and retirees.


The annual inflation rose by 36.08%, while the Consumer Price Index (CPI) increased monthly by 13.58% in December, according to TurkStat. Thus, the annual inflation hit a 19-year high.

The Domestic Producer Price Index (D-PPI) jumped 79.89 in December, compared to the same month last year, according to TurkStat. The D-PPI surged by 19.08% on a monthly basis.

The Istanbul Chamber of Industry (ICI) Turkey Manufacturing PMI (Purchasing Managers Index) rose by 0.1 points to 52.1 points in December, compared to the previous month.

President Recep Tayyip Erdogan and Trade Minister Mehmet Mus will announce foreign trade statistics for 2021.

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