BISHKEK (National Bank press service) – The annual inflation rate in Kyrgyzstan reached 10.2% as of February 12, 2021, according to data released by the National Bank of the country.

Prices on world food markets continue to climb and, as a result, inflation is rising in Kyrgyzstan. The real inflation is mainly due to the increase in the prices of the main components of the food basket, mainly imported into the country.

The National Bank of Kyrgyzstan notes:

The planned increase in excise taxes on alcohol and tobacco products in the first quarter makes an additional contribution to the overall price level during the current year. Taking into account the emerging internal and external factors, it is expected that after some acceleration by the middle of the year, inflation will gradually stabilize and by the end of the year will be within single-digit values.

Meanwhile, the National Bank emphasizes that rising prices on the world markets for raw materials and commodities will determine whether consumer prices in Kyrgyzstan will keep rising in the near future.