Inflation in Kyrgyzstan to reach 15.5 percent at year-end 2022

10:53, 08 сентября 2022, Bishkek - 24.kg news agency , Tatyana KUDRYAVTSEVA

Inflation is expected to be about 15.5 percent in Kyrgyzstan at year-end 2022, and the average annual inflation rate — about 14 percent. The National Bank of the country made such a forecast.

Inflation will return to the medium-term target of 5-7 percent closer to 2024. The forecast takes into account a possible increase in excise taxes on alcoholic beverages and tobacco products in 2023, as well as the previously postponed increase in electricity and hot water tariffs.

«The increase in salaries of state employees in 2022 will put upward pressure on price growth in the forecast period,» the National Bank concluded.

Earlier, the Minister of Economy and Commerce Daniyar Amangeldiev stated that the increase in the salaries of state employees would not influence prices in the country.