Tajikistan's Inflation Rises in November, Expected to Remain Low in 2024: EDB

In November, Tajikistan's inflation returned to the target range of 6% plus or minus 2%, as set by the country's National Bank. The Eurasian Development Bank (EDB) stated that inflation is expected to stay at the lower boundary of this range in 2024, The Caspian Post reports citing Interfax.

The EDB said that Tajikistan had annual inflation of 4.1% in November after 3.6% in October and 3.1% in September.

The bank's analysts said that robust consumer activity, as well as low inflation in autumn 2023, have contributed to the rise in the rate of price growth.

"Consequently, inflation has returned to the target range of the National Bank's interval at 6% plus or minus 2%. We expect that it will remain close to its lower boundary in 2024," the bank said.

The EDB in November forecast inflation of 3.9% in Tajikistan in 2024, namely below the National Bank's target forecast.

Tajikistan saw inflation slow to 3.8% in 2023 from 4.2% in 2022.