...

Kyrgyzstan reveals inflation rate for 1M2023

Kyrgyzstan Materials 22 February 2023 14:29 (UTC +04:00)
Kyrgyzstan reveals inflation rate for 1M2023
Alyona Pavlenko
Alyona Pavlenko
Read more

BAKU, Azerbaijan, February 22. The annual inflation in Kyrgyzstan amounted to 15.3 percent in January 2023, Trend reports with reference to the National Bank of Kyrgyzstan.

The annual inflation in the country in 2022 was 14.7 percent. The price growth in the reporting period was 1.2 percent.

As Kyrgyzstan National Bank noted in January, the inflation dynamics in the country was expected to develop within the medium-term forecast, therefore there was no need yet to change the discount rate.

The bank expects that stabilization of the situation in the global energy and food markets will have an impact on slowing inflation in the second half of 2023.

The next scheduled meeting on the issue of the discount rate in Kyrgyzstan will be held on February 27, 2023.

Kyrgyzstan has the second-highest inflation rate among the Eurasian Economic Union (EAEU) countries, surpassed only by Kazakhstan (annual inflation at 20.7 percent in January 2023).

Meanwhile, annual inflation in the previous month in Belarus amounted to 12 percent, in Russia - to 11.8 percent and in Armenia – to 8.1 percent.

According to the Eurasian Development Bank (EDB) forecast of November 2022, the bank predicted a steep decline of inflation growth rate in Kyrgyzstan up to 5.2 percent in 2023, it is expected to be one of the lowest inflation among the EDB members.

Tags:
Latest

Latest