The National Bank of Kyrgyzstan presented its inflation outlook. It is contained in the report on monetary policy for the third quarter of 2022.
According to the results of 2022, inflation at the end of the period (December to December last year) will be about 15.5 percent, and the average annual inflation rate will be about 14 percent. The outlook for 2023 has been revised upwards.
Annual inflation is expected to be around 9.6 percent.
Return of inflation to the medium-term target is not expected until next year.
«The current forecast includes an increase in excise taxes on alcoholic beverages and tobacco products in 2023, a possible increase in public transport fares in major cities of Kyrgyzstan. In addition, a previously postponed increase in tariffs for electricity, hot water supply and heating is possible,» the outlook says.
