Inflation reaches 10.2 percent as of mid-February in Kyrgyzstan
The annual inflation rate in Kyrgyzstan reached 10.2 percent as of February 12, 2021. The National Bank of the country provided such data.
The rise in prices on the world food markets continues, and, as a result, there is an inflation growth in the country. Formation of actual inflation was mainly due to the rise in prices for the main components of the food group of goods, mainly imported into the republic.
«The planned increase in excise taxes on alcohol and tobacco products in the first quarter makes an additional contribution to the overall price level during the current year. Taking into account the emerging internal and external factors, it is expected that after some acceleration by the middle of the year, inflation will gradually stabilize and by the end of the year will be within single-digit values,» the National Bank notes.
At the same time, the National Bank of the Kyrgyz Republic stressed that growth of prices on the world commodity and raw materials markets determines the persistence of an increase in consumer prices in Kyrgyzstan in the near future.
