As of June 19, the annual inflation rate fell to 6.1% after it reached the level of 8.6% in April, the National Bank of Kyrgyzstan reported.
Weakening of domestic demand determines the downward dynamics of inflation in the country. The National Bank noted that the slowdown in inflation occurred mainly due to a decline in the growth rate of the food component of inflation. The evolving dynamics of inflation in general meets the expectations of the National Bank.
“The National Bank retains its previous forecasts for inflation and expects that its average rate by the end of this year will be within the framework of medium-term monetary policy benchmarks in the range of 5-7%,” the National Bank of the Kyrgyz Republic notes. (24.kg/Business World Magazine)
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