![Turkish President and Leader of the Justice and Development (AK) Party, Recep Tayyip Erdogan [Murat Kula - Anadolu Agency]](https://i0.wp.com/www.middleeastmonitor.com/wp-content/uploads/2023/03/AA-20230329-30709112-30709111-AK_PARTY_GROUP_MEETING.jpg?fit=1166%2C800&ssl=1)
President Recep Tayyip Erdogan, on Wednesday, announced that Turkiye would be cutting electricity and natural gas prices while also pledging an increase in the minimum wage, local media says.
According to the report, electricity prices will be lowered by 15 per cent, and gas prices for industrial users will be reduced by 20 per cent in April, Erdogan told the lawmakers from his ruling Justice and Development Party (AK Party) in Parliament.
Turkiye’s annual inflation fell to 55.18 per cent in February, marking a notable regress from the peak of 85.5 per cent – a 24-year high – registered last October.