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Inflation may reach 3.5% in Kyrgyzstan by the end of 2019

By the end of 2019, inflation rate may reach the level of about 3.5% in Kyrgyzstan. Report on the monetary policy of the National Bank says.

Factors that put the main pressure on inflation in 2019 have been partially revised. The impact on inflation due to an increase in food prices will not be as strong as it was previously expected. But in the second quarter, it was partially offset by an increase in administrative prices due to raised tariffs for cold water.

As for internal factors, residual effect of increased excise taxes on tobacco in the first quarter of 2019 and a slight expansion in consumer demand due to an increase in salaries of teachers and health workers in the fourth quarter will contribute to inflation.

«In 2020, an average inflation rate is expected to be about 4 percent. By the end of the year, the rate will reach about 4.5%,» the National Bank stressed.

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