DUSHANBE, October 19, Asia-Plus – To retain the inflation rate at 10 percent this year the National Bank of Tajikistan (NBT) intends to tighten monetary policy, NBT head Murodali Alimardonov told a news conference in Dushanbe on October 18.
According to him, over the past nine months, inflation has exceeded the anticipated rate of 8 percent and amounted to 9 percent. The index of consumer food prices over the same nine-month period rose 9.4 percent, non-food products 3.1 percent and the paid services 18.6 percent.
The inflation rate in the consumer sector averaged 1 percent over the first nine months of the year, while in January-September 2005 it was 0.63 percent.
The cost of the food products included in the consumer basket as of the end of September 2006 was 43.83 somonis per one family member per month for actual consumption; when adjusted for a balanced diet it was nearly 97 somonis.
The central bank head stressed that this year, the inflation rate was affected by world market trends, particularly rising fuel prices.
”The shortage of farm products also affected the inflation rate,” Alimardonov said, adding that monetary tightening is needed to keep the inflation rate at 10 percent.
