BISHKEK, Kyrgyzstan, December 13. The rise in consumer prices and tariffs in Kyrgyzstan reached 6.9 percent from January through November, Trend reports.
Data from the National Statistical Committee of Kyrgyzstan shows that non-food item prices surged by 11.9 percent, alcoholic beverages and tobacco products increased by 10.7 percent, while prices for food and non-alcoholic beverages rose by 3.1 percent. Furthermore, tariffs for services provided to the population increased by 8.9 percent.
The increase in consumer prices and tariffs throughout during 11 months of the current year, compared to December of the previous year, was observed across all regions of the country. Notably, the highest price hike (12.3 percent) was recorded in the Naryn region and the city of Osh.
The National Bank's policy objective is to maintain inflation within the 5-7 percent range in the medium term. The key instrument of the National Bank's monetary policy is the discount rate, currently set at 13 percent.
By the end of 2023, the National Bank anticipates that inflation in Kyrgyzstan will be below 10 percent. Inflation in Kyrgyzstan stood at 14.7 percent at the end of 2022.