JULY 18 2013 (The Conway Bulletin) — Overall consumer prices in Azerbaijan fell 1.1% in June, according to the official statistics agency. Food prices dropped by 2.6%, driving the fall. This is the second consecutive month that the consumer price index in Azerbaijan has fallen. In May prices dropped by 0.4%.
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(News report from Issue No. 144, published on July 22 2013)
JULY 10 2013 (The Conway Bulletin) — Sighting lower-than-expected inflation, the Tajik Central Bank cut its key interest rate to a record low of 6.1%. It had previously cut rates to 6.5% in August 2012. Inflation across Central Asia and the South Caucasus has generally slowed, although the World Bank has said food price rises may reverse this.
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(News report from Issue No. 143, published on July 15 2013)
JULY 1 2013 (The Conway Bulletin) — Consumer prices in Kazakhstan rose 0.3% in June, according to the Statistics Committee. This means that for the 12-months to the end of June inflation measured 5.9%, continuing a general price rise slow-down. Inflation for the 12 months to the end of February measured 7%.
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(News report from Issue No. 142, published on July 8 2013)
JUNE 19 2013 (The Conway Bulletin) — Georgia’s Central Bank cut its key interest rate to 4% from 4.25% to try to stem falling consumer prices. This is the fourth interest rate cut by Georgia’s central bank this year. Falling consumer prices in Georgia illustrate the economic problems facing the wider region.
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(News report from Issue No. 140, published on June 24 2013)
MAY 8 2013 (The Conway Bulletin) — Georgia’s Central Bank cut its benchmark interest rate to 4.25% from 4.5%, the third cut this year, because of falling price data, media reported. In January, Georgia’s interest rate had been set at 5.25%. Data shows steady consumer price deflation since then, however, although the government still targets annual inflation of 3%.
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(News report from Issue No. 135, published on May 20 2013)
DEC. 23 2012 (The Conway Bulletin) – Armenia’s central bank reported generally positive economic data when it said that it would hold interest rates steady at 8% because of slightly weaker than expected inflation, media reported. Inflation speeded up slightly towards the end of the year but still only peaked at around 4%, the bank said.
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(News report from Issue No. 118, published on Dec. 28 2012)
JULY 7 2012 (The Conway Bulletin) – A poor wheat harvest has forced a three-fold increase in the price of bread in Turkmenistan, one of the country’s most important staple foods, media reported. The AP news agency said wheat harvests had fallen by 25%, angering President Kurbanguly Berdymukhamedov who sacked the agriculture minister.
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(News report from Issue No. 096, published on July 13 2012)
JUNE 20 2012 (The Conway Bulletin) – Battling to fight falling consumer prices, Georgia’s central bank cut interest rates to 5.75% from 6%. This was the third monthly interest rate cut and reflects a regional trend. Countries in the South Caucasus and Central Asia are trying to stem deflation, or slowing inflation, with interest rate cuts.
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(News report from Issue No. 093, published on June 22 2012)
APRIL 10 2012 (The Conway Bulletin) – Average wages in Kazakhstan were roughly $623 in February, about 18% higher than a year ago, the national statistics office reported. The increase is far higher than inflation which officially measured 7.4% in 2011. Inflation has slowed in Kazakhstan in 2012, triggering a couple of interest rate cuts.
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(News report from Issue No. 083, published on April 13 2012)
MARCH 2 2012 (The Conway Bulletin) – Georgia recorded deflation last month for the first time since Aug. 2009. Year-on- year, average prices fell 2.1% in February, mainly due to a 3.5% drop in the cost of food and non-alcoholic drinks. In May 2011, year-on- year inflation had hit 14.3%, highlighting the region’s economic volatility.
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(News report from Issue No. 080, published on March 8 2012)
