BAKU, Azerbaijan, March 10. The National Bank of Kyrgyzstan has forecasted the inflation rate to be within a range of between 10 and 12 percent year-on-year at the end of 2023, Trend reports with reference to the bank’s report.
The bank has revised the current forecast upwards compared to the previous one, mostly because of the increase in the prices of public goods and services.
The latest forecast takes into consideration the rise in prices for some communal services, as well as the increase in bus fares in Kyrgyzstan’s capital, Bishkek.
Meanwhile, the growth in prices is predicted to be subdued by yields in the Central Asia region, with the average level of the past five years.
“The inflation background will be formed depending on the rate with which the state institutions will introduce the new tariffs, as well as of the exchange rate dynamic of Tajik som against the US dollar,” the report said.
Meanwhile, the annual inflation in Kyrgyzstan amounted to 15.3 percent in January 2023, while the figure was at 14.7 percent at the end of 2022.