CHP Leader Refuses to Pay Energy Bills In Solidarity With Struggling Turks

LOCAL NEWS

• CHP leader Kilicdaroglu says he refuses to pay his electricity bill in protest until the government withdraws the recent price hikes. He also called for a reduction in VAT on power bills from 18% to 1%. This follows protests from shopkeepers, doctors and the freight sector over wages and runaway inflation.
• Bread prices rise 31% in istanbul with a 210 gr loaf of bread, Turkey’s staple food, costing 3 liras vs a 230gr loaf at 2.5 liras prior. On Feb. 9, Istanbul Metropolitan Municipality also increased the price of its cheaper bread by 60% to to 2 liras per 250-gram loaf
• Turkish court rules Kavala must remain in prison, despite Council of Europe infringement proceedings. The CoE has threatened to strip Turkey of its veto powers if it does not comply with its rulings and has transferred the case to the ECHR. The next hearing of the case will be Feb 21 - Duvar

Data:

• 0700GMT: Dec Current Account Balance exp at -4.20bn vs -2.68bn prior
• 0700GMT: Dec Industrial production m/m exp at 0.3% vs 3.3% prior
• 0700GMT: Dec Industrial Production y/y exp at 10.9% vs 11.4% prior
• 0700GMT: Feb expected inflation next 12m, 25.37% prior