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«AgroInvest» — News — Zair Chokoev: High level of inflation remains in Kyrgyzstan

Zair Chokoev: High level of inflation remains in Kyrgyzstan

2011-07-22 15:18:56

High level of inflation remains in Kyrgyzstan within the year, the Deputy Head of the National Bank Zair Chokoev stated at the press conference today.

According to him, the National Statistic Committee informs 12-month rate of inflation reached 22.7 percent in June, 2011 while the same rate for 2010 made up only 3.6 percent.

“Events of 2010, impact of the world financial crisis caused decrease of economy growth. These events hinged upon price hikes. The structure of our economy is that we are importers and are very sensitive to changes in surroundings. This tendency remains,” said Zair Chokoev.

“Six months of 2011 could be divided into 2 stages – first and second quarters. Inflation made up 6.8 percent for three month of 2011 and 0.7 percent for next three months. Prices on bakery products and grits boosted getting up by 44.9 percent, dairy products raised in prices by 12.9 percent, meat – by 37.2 percent. Respectively prices on services grew too.”

“To date the transition from the zone of high inflation to mild one is beginning to show only. We continue to watch after the situation and advice the Government how to keep emerging tendencies in the second quarter,” added Zair Chokoev.

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