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Inflation in Kyrgyzstan slowing down - National Bank

Kyrgyzstan Materials 29 November 2022 13:01 (UTC +04:00)
Inflation in Kyrgyzstan slowing down - National Bank
Aygun Maherramova
Aygun Maherramova
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BAKU, Azerbaijan, November 29. Inflation rates in Kyrgyzstan are slowing down, Trend reports citing the press service of the National Bank of Kyrgyzstan.

According to the bank, as of November 18, 2022, the annual inflation in Kyrgyzstan was 14.5 percent, down from 15.4 percent in October 2022.

However, the National Bank underlined that the global environment remains uncertain, world prices for food, energy and other commodities remain high despite a consistent decline. Under these conditions, the monetary policy pursued by the National Bank, as before, is aimed at curbing inflationary processes.

"Monetary conditions generally remained neutral, and despite negative external shocks and heightened inflationary expectations, the ongoing monetary policy made it possible to minimize pressure on national currency," the National Bank said.

In general, it is expected that the slowdown in inflationary processes in Kyrgyzstan will continue in 2023. In this regard, the priority task of the National Bank of Kyrgyzstan is to implement a coordinated fiscal and monetary policy in order to maintain macroeconomic stability, as well as to carry out structural reforms, including measures to reduce non-monetary inflation factors and saturate the domestic market with consumer goods.

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