Inflation in Kyrgyzstan slowed down to 9.5% in August 2023, compared to 10.3% in July 2023, as reported by the Eurasian Development Bank (EDB), Akchabar.kg reports.
The primary factor contributing to this slowdown was the easing pressure from global food markets. The contribution of food inflation to the dynamics of the consumer price index decreased to 3.9 percentage points in August, down from 4.8 percentage points in July 2023.
The contribution of non-food inflation remained at 6.3 percentage points, which was due to increased excise taxes on tobacco products, higher import costs (due to increased inflation in trading partner countries), and adjustments in the service sector to new levels of prices for components and consumables.
"We expect a more pronounced decrease in inflation in the fourth quarter as we move away from the high figures of the previous year. According to our estimates, inflation is expected to slow down to 7.1% by the end of the year," state analysts at the EDB.
CentralasianLIGHT.org
September 18, 2023