Inflation rate is predicted to be in the range of 10-12 percent at the end of 2023 in Kyrgyzstan. Report on the monetary policy of the National Bank says.
Non-food products make a greater contribution to inflation rate in the forecast for 2023. Their growth at the end of the first quarter of this year was higher than expected in the previous forecast. The contribution of administrative prices decreased due to news of the cancellation of a fare increase that was planned in May 2023.
«In 2023, the Central Asian region is expected to have a good harvest at the level of average yields over the past five years, which will potentially help curb food prices. The inflationary background will be formed depending on the intensity of the adoption of new tariffs by state bodies, as well as on the dynamics of the exchange rate of the som against the U.S. dollar,» the National Bank of the republic says.
