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EDB expects 2.1 percent price growth in Kyrgyzstan in 2019

As a result of 2019, inflation in Kyrgyzstan will reach 2.1 percent. Macroeconomic review of the Eurasian Development Bank (EDB) says.

It is noted that in 2019, low inflationary background will continue to be formed under the influence of world food prices decline and restrained domestic demand. According to current estimates, world food prices will begin to recover in the first half of 2019, and by the beginning of 2020 their dynamics will stabilize, which will accordingly be reflected in the growth trajectory of the consumer price index in Kyrgyzstan.

«Somewhat restrained influence on inflation will be exerted by lower oil prices in the forecast period. As for internal factors, inflationary excise taxes on tobacco products, planned for the medium term, can have pro-inflationary pressure,» EDB economists say.

At the same time, rise in prices could reach 5.8 percent in 2020, and in 2021 — already 6.6 percent.