BAKU, Azerbaijan, September 22. The Asian Development Bank (ADB) has published an updated forecast on the inflation rate of Turkmenistan, Trend reports citing the ADB's September report.
According to the ADB forecast, the inflation rate in Turkmenistan in 2022 will be 13 percent, and in 2023 - 10.5 percent.
Meanwhile, in its April report, the ADB predicted the inflation rate in Turkmenistan at 13 percent in 2022 and 10 percent in 2023.
The ADB said the observed prices for imported food and other products, medicines, and locally manufactured goods with imported components have continued to rise in line with earlier projections.
"Monetary policy remains focused on controlling inflation by keeping the official exchange rate unchanged, supplemented by price controls and the distribution of selected foodstuffs at subsidized prices. In view of these developments and the lagged effects of an unusually sharp rise in global food prices earlier, this Update slightly raises the inflation forecast for 2023,” the report said.