Kyrgyzstan's Inflation Rate Slows Down - EDB
Date
2/14/2023 12:12:09 AM
(MENAFN- Trend News Agency) BAKU, Azerbaijan, February 14. Annual inflation
in Kyrgyzstan amounted to 14.7 percent in December from 15 percent
in November 2022, trend reports via Eurasian Development bank (EDB).
According to the EDB, the slowdown in inflation growth rate was
induced by the decrease of the pressure from the global food market
on Kyrgyzstan. Inflation was also slowed by a decrease of growth
rate of services prices.
Meanwhile, the acceleration of non-food, alcoholic and tobacco
products' price growth rate prevented a sharper decrease in
inflation.
At the same time, the EDB experts expect that in early 2023 an
increasing pressure on the internal financial market may disrupt
Kyrgyz inflation slowdown.
According to the EDB forecast in November 2022, the bank
predicted a steep decline of inflation growth rate in Kyrgyzstan in
2023. One of the lowest inflation among the EDB members is expected
to be in Kyrgyzstan, amounting to 5.2 percent in 2023.
The bank also pointed out that the economy growth in Kyrgyzstan
in December 2022 amounted 7 percent. The main contribution in the
economy was made by a gold mining sector (1.6 percent point). Also,
increase was registered in construction and agriculture
sectors.
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