The Deputy Chairman of the National Bank of the Kyrgyz Republic, Azat Kozubekov, spoke at a press conference about the impact of internal factors on inflation, in particular, the rise in electricity tariffs and housing and communal services.
He also noted that inflation expectations among households and business structures remain stable and are within moderate limits.
“The stability of the situation in the foreign exchange market and the monetary policy conducted by the National Bank is positively influenced by the fact that, as of December 2025, the annual inflation in the country was 9.4%. Since the beginning of 2026, the rate of price changes has remained the same,” he added.
Kozubekov also emphasized the slowdown in the growth of prices for food products in the structure of inflation.
“Nevertheless, prices for services and non-food goods remain high, which is associated with increased domestic demand and secondary effects. In 2025, the National Bank of the Kyrgyz Republic decided to triple the increase in the discount rate — from 9% to 11%, which is currently in effect. We continue to support monetary conditions that allow us to maintain price stability and achieve our main goal — keeping inflation at 5.7% in the medium term,” noted the deputy head.
