Home Business Tajikistan’s inflation rate reached 9.4% in 2020.
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Tajikistan’s inflation rate reached 9.4% in 2020.

by YCPress

Dushanbe News: Tajikistan’s Avesta News Agency reported on the 14th that according to the data released by the Bureau of Statistics directly under President Tajikistan, the inflation rate in the consumer goods sector in the country will reach 9.4% in 2020.

Food prices represented by vegetable oil, white sugar and wheat have increased significantly.

The report quoted data released by the Bureau of Statistics directly under the President of Tajikistan, indicating that in the past year, the price of food in Tajikistan has increased by an average of 13%, the price of non-food commodities has increased by 5.8%, and the price of various paid services has increased by about 4%.

Commodities with significant price increases include: vegetable oil (42.2% increase), white sugar (40.7% increase), cottonseed oil (50.7% increase), wheat kernels (38.7% increase), macaroni finished products (30% increase), etc. In addition, the price of cereal products, potatoes, butter, first-class wheat flour and other commodities rose by more than 10%.

Reports of rapid rise in food prices in Tajikistan began in September 2020.

Some importers believe that the rise in domestic commodity prices is related to the depreciation of the domestic currency Somoni against the US dollar.

It is reported that the Central Bank of Tajikistan adjusted the official exchange rate of Somoni against the US dollar twice in 2020. According to the agency’s statistics, the January 2020 dollar is convertible to 9.69 somoni.

After two exchange rate adjustments, the current exchange rate of $1 is 11.30 somoni.