Eurasian Development Bank forecasts inflation to increase to 5.9%

AKIPRESS.COM - By the end of 2020, the Eurasian Development Bank (EDB) forecasts inflation to increase to 5.9% year-on-year mainly due to the depreciation of the national currency and increasing prices for food products. The moderate domestic and external demand for durable goods will significantly limit inflation processes in the mid-term period.
With stabilization of exchange rate, the consumer inflation will slow down to 4.1% year on year by the end of 2021 and will gradually begin to recover towards the National Bank's target of 5-7%.