In Tajikistan, inflation in the consumer goods sector over the first seven months of this year has stood at 4.6 percent, according to the National Bank of Tajikistan (NBT).
Last month, inflation in the consumer sector reportedly stood at 0.3 percent.
Tajik central bank notes that the annual inflation rate for Tajikistan is 7.7 percent for the 12 months ended July 2020.
Increase in Inflation has reportedly been caused by increase in prices for food products, liquefied natural gas (LNG) and air tickets.
In accordance with the forecasts of key macroeconomic variables endorsed by the government in late July this year, the year-end inflation this year will stand at 9.8 percent.
The government predicts Tajikistan’s inflation to stand at 6.9 percent in 2021, 6.8 percent in 2022, and 7.1 percent in 2023.
Last year, the year-end inflation in the consumer goods sector stood at 8.0 percent.
Meanwhile, the World Bank (WB) experts predict Tajikistan’s inflation to stand at 10 percent this year.
The World Bank’s Tajikistan Macro Poverty Outlook – Spring 2020 says poverty reduction prospects will be undermined by the increase in food prices and the fall in growth rate and remittances.
After subsiding to 5.4 percent in 2018, 12- month consumer price inflation reportedly surged to 8 percent in 2019, close to the upper range of the NBT’s target band of 5–9 percent.
The report notes that the main drivers of consumer price inflation in 2019 were rising food prices, currency-depreciation pass-through effects, and the 15-percent electricity tariff increase.
