Turkey raised natural gas and electricity prices for households and industry, adding pressure to the country's inflation rate, which reached its highest in two decades.

Energy importer BOTAŞ raised natural gas prices by 30 percent for households and 10 to 40 percent for industry, the company said in a statement. The energy market regulator said it was raising electricity prices by 15 to 25 percent.

Inflation in Turkey jumped after the government ordered the central bank to lower interest rates late last year and global energy and other commodity prices rose. Consumer price inflation reached 70 percent in April, while producer price inflation is 122 percent a year.

Turkey imports almost all of the energy it consumes, leaving its economy and consumers vulnerable to large price fluctuations.

Consumer price inflation could accelerate to 76.6 percent year on year in May, according to an average estimate from a Reuters poll of 14 institutions.  Forecasts ranged from 72.5 percent to 80.4 percent.