Translated with AI
In the first quarter of this year, the inflation rate in the consumer sector of the economy of Tajikistan amounted to 1.3%, which is 0.3 percentage points lower than in the same period of 2024. This is reported in the published report of the National Bank of the Republic.
As specified by the financial regulator, in March 2025, inflation was 0.6%, which is 0.2 percentage points less compared to March last year. In annual terms, the inflation rate for March of this year reached 3.4% – 0.2 percentage points lower than the same indicator for March 2024.
According to the comparative statistics provided, annual inflation in March 2025 in the countries that are Tajikistan's main trading partners significantly exceeded this figure. In particular, in Turkey it was 38.1%, in Uzbekistan – 10.3%, Kazakhstan – 10%, Belarus – 5.9%, Georgia – 3.5%, Armenia – 3.3%.
Core inflation, which reflects monetary factors and excludes the impact of seasonal prices for food and fuel, was minus 0.2% in March of this year, and 1.2% in annual terms.
At the same time, the refinancing rate in Tajikistan remains stable at 8.75%.
As previously noted by the country's government, the strategic goal for 2025 is to keep inflation within 5%. The National Bank of the Republic intends to continue pursuing a balanced monetary policy aimed at maintaining stability of domestic prices.
According to the National Bank, the lowest inflation rate since Tajikistan’s independence was recorded in 2013 and amounted to 3.7%.
