JAN. 6 2021 (The Bulletin) — Flour prices in Tajikistan, which are managed by the state, have continued to rise, media reported. Reports said that a bag of flour rose in price by 4% in December. Inflation is rising across Central Asia. Media in Kyrgyzstan has reported that the price of meat had risen by a third in the second half of 2020.
— ENDS
— This story was first published in issue 467 of the Central Asia & South Caucasus Bulletin
— Copyright the Central Asia & South Caucasus Bulletin 2021
JAN. 4 2021 (The Bulletin) — State-mandated fuel prices rose in Azerbaijan to offset, state-owned energy company Socar said, the refining investments it has made to improve quality. Media reported that AI-92 petrol had risen by 11% and the cost of a litre of diesel had risen by a third. Fuel price rises have previously triggered disquiet in the region.
— ENDS
— This story was first published in issue 467 of the Central Asia & South Caucasus Bulletin
— Copyright the Central Asia & South Caucasus Bulletin 2021
JUNE 19 (The Bulletin) — Azerbaijan’s Central Bank cut its core interest rate to 7% from 7.25% because of a drop in inflationary pressure. Like the rest of the region, Azerbaijan’s economy is expected to contract this year because of the impact of a lockdown designed to suppress the spread of the coronavirus.
ENDS
— This story was first published in issue 451 of the Central Asia & South Caucasus Bulletin, published on June 23 2020
— Copyright the Central Asia & South Caucasus Bulletin 2020
FEB. 24 2020 (The Bulletin) — Kyrgyzstan’s Central Bank raised its key interest rate by 75 basis points to 5% because of creeping inflationary pressures. This is its highest rate since mid-2018 when the Central Bank started cutting its interest rate. It said in a statement that it had raised its inflation prediction for 2020 to 5% from an earlier estimate of 4.6%. Food price rises are driving inflation, it said.
— ENDS
— This story was first published in issue 438 of the Central Asia & South Caucasus Bulletin
— Copyright the Central Asia & South Caucasus Bulletin 2020
DEC. 13 2019 (The Bulletin) — Azerbaijan’s Central Bank revised down its inflation estimate for this year to 2.8% – 3% from an earlier prediction of 4% and cut its key interest rate to 7.5% from 7.75%. Azerbaijan’s Central Bank has been steadily cutting its key interest rate since the start of 2018 when it measured 15%. It devalued its currency by 50% in 2015 when global oil prices collapsed.
ENDS
— This story was first published in issue 432 of the weekly Bulletin on Dec. 27 2019
Copyright owned by the Central Asia & South Caucasus Bulletin
DEC. 12 2019 (The Bulletin) — Georgia’s Central Bank increased its key interest rate by 50 basis points to 9%, its highest level for at least 10 years. This year, the Georgian Central Bank has increased its interest rate from 6.5% in an effort to dampen inflation which it partly blames on its weak currency. It said that inflation now measured 7% and would not fall until March 2020. >> See page 8
ENDS
— This story was first published in issue 432 of the weekly Bulletin on Dec. 27 2019
Copyright owned by the Central Asia & South Caucasus Bulletin
DEC. 9 (The Bulletin) — Kazakhstan’s Central Bank kept interest rates at 9.25% and warned that inflationary pressure was building. It said that the weak tenge, which is bumping along at all-time lows, and a growing current account deficit was an inflation risk. Inflation is currently at around 5.5% but is expected to rise to 6% next year. >>See page 8 for more
ENDS
— This story was first published in issue 431 of the weekly Bulletin on Dec. 9 2019
Copyright owned by the Central Asia & South Caucasus Bulletin
NOV. 4 (The Bulletin) — Inflation in Georgia hit 6.9% in October, up from 6.4% in September, the national statistics office said, confirming Central Bank warnings that prices were rising at an unsustainable rate. Georgia’s economy has been booming but inflation has undermined growth and has forced the Central Bank to raise interest rates three times since the start of September.
ENDS
— This story was first published in issue 428 of the weekly Bulletin
JAN. 28/30 (The Conway Bulletin) — Kazakhstan and Uzbekistan’s Central Banks kept their interest rates steady because of low inflation. Falling prices have been a feature of the economies of the region since they recovered from an economic downturn in 2014-17. Kazakhstan’s interest rate is currently 9.25% and Uzbekistan’s lies at 16%.
END
>This story was first published in issue 398 of The Conway Bulletin on Jan. 31 2019
Copyright The Conway Bulletin 2019
JAN. 25 (The Conway Bulletin) — Georgia’s Central Bank cut its interest rate to 6.75% from 7% and said that is was likely that further rate drops would follow because of sluggish inflation, despite a projected increase in economic growth and consumer growth. In an interview with Reuters, Georgian Central Bank chief Koba Gvenetadze said that inflation was ticking along at 1.5% compared to a target inflation of 3%. Mr Gvenetadze said interest rates were likely to drop to 6% or 5%.
END
>This story was first published in issue 398 of The Conway Bulletin on Jan. 31 2019
Copyright The Conway Bulletin 2019