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Inflation in Kyrgyzstan to reach 7.1 percent by the end of 2023

Inflation will slow down to 7.1 percent at the end of the year in Kyrgyzstan. The weekly review of the Eurasian Development Bank says.

Economists of the bank note that in August inflation in the country slowed to 9.5 percent after 10.3 percent in July. The key impact was the easing pressure from global food markets.

«The contribution of food inflation to the CPI growth rate declined to 3.9 percent in August from 4.8 percent in July. The contribution of inflation in the non-food segment remained at 6.3 percent, which is due to the increase in excise duties on tobacco products, the rise in the cost of imports (due to higher inflation in the countries — trading partners), adjustment in the services sector to new levels of prices for components and consumables. We expect a more pronounced decline in inflation in the fourth quarter of the year as the calculations come out of the high figures of the previous year,» the bank said.