Inflation rate to be at 11-12% level in 2017 - a representative of Central Bank

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Finance 15/09/2017 Inflation rate to be at 11-12% level in 2017 - a representative of Central Bank

Inflation rate to be at 11-12% level in 2017 - a representative of Central Bank

Tashkent, Uzbekistan (UzDaily.com) -- The Central Bank of Uzbekistan expects inflation rate in 2017 at the level of 11-12%, head of the department of monetary policy of the Central Bank Ilkhom Norkulov said.

According to him, since the beginning of 2017, the inflation rate in Uzbekistan was 6.4%. In comparison with August of 2016, the figure was 11.2%.

Ilkhom Norqulov noted that the inflation rate in Uzbekistan will be at least 10% in 2018.

According to official statistics, inflation was 5.7% in 2016 compared to 5.6% in 2015. In 2017, the inflation rate was forecasted within 5.7-6.7% level.

The inflation forecast for 2017 was adjusted under the influence of the factors, which were formed in the first half of 2017.

It should be recalled that the Central Bank of Uzbekistan raised the refinancing rate from 9% to 14% per annum from 28 June 2017.

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