"The National Bank resolved to keep the base rate and its corridor within 9.24% +/- 1 percent on February 3. The current level of the base rate under the efforts of the Government and the local executive bodies for the increase of competition on the food markets and support of optimal tariff policy will keep the inflation in the targeted corridor," he said at the session of the Government.
In his words, food inflation slowed down to 9.2% in January this year against 9.6% in December last year.
"It was due to the reduction of rates of prices growth for fruit and vegetables, meat and meat products, bakery products, grits, fish, butter and fats. Thus, the contribution of prices growth of this products in inflation which was observed last year has been going down, food inflation is expected to slow down in 2020," he said.
In his words, nonfood annual inflation increased to 5.2% in January this year, against 5% last month, due to the increase of fuel prices.
Photo source: picture from an open source