(Reuters] – Turkey, which saw inflation rise to a 19-year-high of 36.1% in the last month, has pushed for a string of price hikes to begin the year. This will add to the cost pressures while Ankara follows an unusual interest-rate reduction policy.

Official data from Monday showed that consumer prices increased 13.58% by December. The increase further degrades the earning potential and saves of Turks who were hit hard by the current currency crisis.

The central bank cut its key rate 500 basis points, to 14%, in September despite the pressure from the market. This has caused the lira to fall as low as 50% during that time.

In the end, imported prices shot up, setting off what economists described as a “vicious loop” wherein the government responded with a hike in minimum wage, tax, and utility tariffs.

Below are some price rises:

WAGES AND PENSIONS

In order to raise the minimum wage for workers by 50%, the government raised it from 4,250 lire ($275.44) to 5,250 lire ($275.44). It also increased some taxes that employers pay. The President Tayyip Erdogan stated that civil servant salaries have been increased by 30% since January and that monthly pension payments will jump to 2,5 lira ($189), from 1,500.

POWER

In light of high energy inflation worldwide, the Energy Market Regulatory Authority stated that electricity prices had been increased by up to 125% for commercial customers and around 50% for households with lower demand for 2022.

GAS

According to BOTAS, the national distributor of power generators and industrial equipment, prices rose 25% in residential usage and 50% in industrial use during January. Power generators saw a 15% price hike in January.

PETROL

According to the Energy, Petroleum, Gas Stations Employers Union, diesel prices increased by 1.29 lires, while petrol prices, often adjusted according to international prices, rose more than half of a lira each litre, around 5%, during the most recent adjustment.

ROAD, BRIDGE AND TOLLS

Average 25% increase in tolls on highways and bridges.

RAILWAYS

Marmaray train service under Istanbul’s Bosphorus Strait increased its ticket price by 36%. Turkish Railways has increased the ticket price for its high speed trains by 20%

CIGARETTES & ALCOOL

A 47% increase in the special consumption tax was made on alcohol and cigarettes. This makes cigarettes 20% more costly and raises alcohol prices by 20-33%.

GRAINS

Turkey’s TMO state-granit board has announced price increases of 22-24% in wheat and barley, to help farmers.

BUS FARES, TAXI

Istanbul’s taxi fare increased by approximately one-third over the previous year. Istanbul’s bus fare rose by 36%

CAR INSURANCE

For those who have the highest deductible, there was an 20% increase in vehicle insurance. It will be effective as of February.

($1 = 13.2386 liras)