Tag Archives: inflation

Wage inflation soars in Kazakhstan

APRIL 10 2012 (The Conway Bulletin) – Average wages in Kazakhstan were roughly $623 in February, about 18% higher than a year ago, the national statistics office reported. The increase is far higher than inflation which officially measured 7.4% in 2011. Inflation has slowed in Kazakhstan in 2012, triggering a couple of interest rate cuts.

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(News report from Issue No. 083, published on April 13 2012)

Georgia records deflations

MARCH 2 2012 (The Conway Bulletin) – Georgia recorded deflation last month for the first time since Aug. 2009. Year-on- year, average prices fell 2.1% in February, mainly due to a 3.5% drop in the cost of food and non-alcoholic drinks. In May 2011, year-on- year inflation had hit 14.3%, highlighting the region’s economic volatility.

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(News report from Issue No. 080, published on  March 8 2012)

 

Inflation slows in Tajikistan

FEB. 27 2012 (The Conway Bulletin) – With inflation easing, the Tajik Central Bank cut interest rates to 9% from 9.8%. Reuters reported that inflation in Tajikistan averaged 9.3% in 2011 compared to 9.8% in 2010. Analysts had identified rising inflation as a potentially destabilising factor in Tajikistan.

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(News report from Issue No. 079, published on  March 1 2012)

 

Petrol prices rise in Tajikistan

NOV. 29 2011 (The Conway Bulletin) – Petrol prices in Tajikistan, a key price to watch for inflation and social tension, have risen sharply in the last few days, the state anti-monopoly agency told local media. The official said the suspension of a railway line in Uzbekistan because of a suspected bomb attack had hit supplies.

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(News report from Issue No. 67, published on Dec. 1 2011)

Wages increase by 15% in Kazakhstan

OCT. 17 2011 (The Conway Bulletin) – Wages rose roughly 15% in Kazakhstan during the 12 months to August, local media quoted Kazakhstan’s statistics agency as saying, an indication that inflation is rising fast in Central Asia’s largest economy. The government has said it expects the Kazakh economy to grow by around 7% a year in 2011 and 2012.

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(News report from Issue No. 61, published on Oct. 18 2011)

Kazakhstan’s inflation target to rise

AUG. 12 2011 (The Conway Bulletin) – Kazakhstan’s Central Bank said it might revise upwards its inflation target for 2011 because of high food and energy prices. The Bank had forecast inflation for 2011 between 6% and 8%. Central Asia has been hit hard by inflation and analysts say rising prices for food and utilities could trigger unrest.

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(News report from Issue No. 53, published on Aug. 17 2011)

Food prices soar in Tajikistan

MAY 15 2011 (The Conway Bulletin) – Food prices in Tajikistan have risen by about 30% in the last month, RFE/RL reported. Worried about social unrest, US-funded RFE/RL said that the authorities have spent millions stocking up on food and fuel and imposed price caps on meat.

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(News report from Issue No. 40, published on May 17 2011)

Inflation drops below 10% in Armenia

MAY 1 2011 (The Conway Bulletin) – For the first time in 2011 annualised inflation in Armenia dropped below 10% and may reflect a slowdown in price rises across the region. Armenia’s annualised inflation in April was 8.6% down from 11.5% in March, its national statistics office said. Some analysts had warned that rising inflation could stir instability.

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(News report from Issue No. 38, published on May 2 2011)

Tajik President says to hoard food

MARCH 25 2011 (The Conway Bulletin) – In a thinly veiled warning that food prices in Tajikistan will continue to rise and that supplies are running low, local media quoted President Emomali Rakhmon telling people in a northern province to hoard food over the next two years. Food prices have soared in Central Asia, worrying governments which fear unrest. Kyrgyzstan and Tajikistan have been worst hit.

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(News report from Issue No. 33, published on March 28 2011)

Food inflation hits Central Asia and stirs unrest

FEB. 21 2011 (The Conway Bulletin) – Fires last year in Russia, floods in Australia and bulk buying by wealthy countries have pushed up wheat prices around the world, angering people and worrying governments. In Central Asia and the South Caucasus some are warning of growing unrest.

On Feb. 11 in his state-of-the-nation address, Georgian President Mikhail Saakashvili said his government would start handing out food vouchers to every family in the country and on Feb. 18 the Kazakh government promised to spend $87m building up its reserves of wheat.

But the most vulnerable countries are Kyrgyzstan and Tajikistan where people have had to endure the steepest spike in wheat prices in the world on top of soaring inflation and instability.

In comments which would have resonated in Bishkek and Dushanbe, the head of the World Bank, Robert Zoellick said on Feb. 15 of the food price rises: “There is a real stress point that could have social and political implications across Central Asia.”

The World Bank has estimated that in Kyrgyzstan wheat accounts for 40% of the average person’s calorie intake while in Tajikistan the figure is even higher at 54%.

And social tension may already have flared.

In Dushanbe, media quoted a government official reassuring people that the country had enough food supplies and denying that there would be any unrest linked to a lack of food.

Local media in Kyrgyzstan reported that the government is preparing to tap into their emergency wheat reserves to feed 340,000 low income families but a Conway Bulletin correspondent in Bishkek said teachers and other state employees plan a demonstration on Feb. 23 to protest against rising food prices.

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(News report from Issue No. 28, published on Feb. 21 2011)