- 5
- 23.08.2023 11:51:00
- 2 min read
The dynamics of prices for food products and services in the republic determined the decline in annual inflation in the first half of 2023
In Tajikistan, inflation slowed down in 2022-2023.
This was announced by the economist of the Eurasian Development Bank (EDB) Konstantin Fedorov.
According to him, this had a positive impact on the economy of the republic.
Thus, from 2019 to 2021, the growth of consumer prices in the country exceeded the target range of the National Bank of Tajikistan.
In the second half of 2022, inflation slowed down and began to move towards the target.
This was due to a consistent monetary policy and the weakening of external price pressure.
In the summer of 2023, the cost of goods across the country decreased to 2.4%.
The EDB economist believes that with such inflation, the National Bank of Tajikistan should not ease its monetary policy anyway. After all, it is fraught with high pro-inflationary risks.
According to the expert, the relatively low prices for goods are explained by the increase in the cost of food a year ago.
It is noted that this trend became possible due to the fact that all over the world prices for everything have become lower.
The slowdown in growth in prices for services is also mainly due to external influences.
In addition, home heating has become cheaper due to the reduction in the cost of energy in the world market.
Air travel in Tajikistan has also become more accessible, the expert noted.
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Thus, the current inflation below the National Bank's targets is mainly the result of the influence of a rather narrow group of non-monetary factors.
According to the EDB, the recovery of inflation to target levels does not require a reduction in the NBT refinancing rate.
source: tj.sputniknews.ru
