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Possible increase in tariffs to make additional contribution to inflation

A possible increase in a number of administered prices (tariffs) will make an additional contribution to the overall inflation. The National Bank of Kyrgyzstan reports.

Dynamics of inflation observed in Kyrgyzstan is due to the influence of increased import prices mainly on food, fuel and lubricants. As of April 16, 2021, inflation in annual terms reached 8.6 percent, down from 10.2 percent in March this year. The main pressure on the dynamics of food prices is exerted by such external factors as the accelerated growth of prices in the world food markets and the limited supply in the producing countries.

«They contribute to formation of inflation in the republic at higher levels by the end of this year. A gradual recovery in external demand is expected in the medium term against the backdrop of stimulating measures of state support in trading partner countries and strengthening measures to increase the rate of vaccination of the population. Continuing rise in prices on world commodity markets determines the upward dynamics of inflation in Kyrgyzstan in the near future,» the National Bank concluded.