According to Article 63 of the Treaty on the Eurasian Economic Union, the inflation rate (consumer price index) is one of the key macroeconomic indicators determining the stability of economic development. Therefore, the EEC conducts regular monitoring of inflation levels in the Union's member states.
Monitoring in November showed that the annual inflation rate as of November was:
- Armenia – 1.4%,
- Belarus – 5.5%,
- Kazakhstan – 8.4%,
- Kyrgyzstan – 5.7%,
- Russia – 8.9%,
as reported on the EDB website.
Compared to November 2023, annual inflation slowed in Kazakhstan by 1.9 percentage points and in Kyrgyzstan by 2.4 percentage points. Slight acceleration was observed in Belarus by 0.1 percentage points and in Russia by 1.4 percentage points, while in Armenia deflation turned into inflation.
In the structure of consumer prices, a slowdown in inflation was noted for food products in Kazakhstan and Kyrgyzstan, for non-food products in Armenia, Kazakhstan, and Kyrgyzstan, and for services in Belarus and Kyrgyzstan.
CentralasianLIGHT.org
December 19, 2024