NBT: Change in prices for goods and products in the domestic market remains stable

Short explanation of rise in price in the consumer market of our country

In recent days on the websites there were placed some information and materials concerning price increase for products in the consumer market, which content by comparison and according to objective evaluation differs radically from the real situation and current condition of the existing prices.

As a result of the above mentioned information we will address to the real and official facts and figures received on the basis of statistics. According to the official statistical data the inflation rate in 2015 in comparison with previous year has a tendency to decrease and has made 5,1%. Rise in inflation has been caused by a rise in prices for foodstuffs on 4,3%, nonfood products on 7,8% and paid services on 2,3%.

For informational purposes we want to note that decrease on inflation is one of the macroeconomic indicators promoting strengthening of macroeconomic environment in the country.

The analysis confirmed the facts that growth of this indicator generally resulted from negative influence of external factors and insignificant increase in prices for the imported products in the conditions of restriction of level of domestic demands.

Despite the influence of external pressure, last year the price stability was preserved.

Price stability, abundance, and also reasonable prices for products were reached due to increase of production and offer of agricultural product, import-substituting goods such as potatoes, onions, meat, fruit, eggs, dairy products, coal, cement, liquefied brick and other consumer goods.

On January 2016, change of macroeconomic indicators observed in the countries of main trade-partners in connection with influence of the proceeding external economic situation, that is influence of the political and economic crisis, substantially had impact on increase in prices of some goods, which are imported into our country from abroad for foreign currency. It should be noted that at the moment there is recorded minor change of prices for flour, oil, granulated sugar, confectionery, liquefied gas and detergents. These changes mainly have seasonal and short-term nature and increase in prices for other goods in domestic markets isn’t observed yet.

According to the approved plan, the National Bank of Tajikistan carries out daily monitoring and evaluation of prices of essentials in the largest markets of regions of our country. The carried-out analyses as of February 5 of the current year showed that the average prices of the imported goods into our country are lower in comparison with the similar prices in a number of CIS countries. At the same time, in the markets of our republic the average prices for goods of domestic production, such as meat, rice, carrots, eggs, milk, fish, bread, macaroni, potatoes, apple, cement, and brick tended decrease or stable change.

Unfortunately, some members of the media in recent days without carrying out any deep analysis and comparison of the facts and indicators distribute information concerning the change in price in the markets of our republic, which negatively influences the social and economic situation in the country. As in present crisis conditions any incorrectly presented information leads to panic among citizens and to growth of factors of expectation, and also can serve as a reason of speculation and price increase of goods in the markets.

Regarding this, we call journalists for ensuring tranquility and tolerance, which are important components for preservation of price stability in the markets. As it is expected that tension of course change in the world financial markets will gradually decrease, and with acceptance of necessary measures stabilization of the situation in domestic market will be provided.

It should be noted that the sphere of production entrepreneurship and agriculture is constantly in the center of attention of the state, and the Government of the country by acceptance and implementation of various industry programs directs all opportunities for full providing the consumer market of the country with domestic goods and preservation of stability of prices for products.

Also, for support of producers of consumer goods, and producers of import-substituting goods and for enrichment of domestic market, the National Bank of Tajikistan and domestic banks take necessary measures for increase in volume of long-term credits and crediting of production and agriculture sector for the lowest rates.

For example, in 2015 there were provided credits more than TJS 7,5 billions for the sphere of production and agriculture from different banks and in comparison with 2011 it is more than 32,9%.

The National bank of Tajikistan carries out continuous monitoring of the prices of essential goods. On the basis of the carried out monitoring there are taken necessary measures for decrease in influence of monetary factors on price level by means of use of monetary-credit tools, preservation of stable growth of money supply, also elimination of influence of external and internal pressure upon price level, especially speculation in the domestic currency market.

The main goal of the National Bank of Tajikistan is achievement of stable price level. For ensuring performance of these goals, the NBT with appropriate authorities will direct all their opportunities for preservation of macroeconomic and financial situation, real growth of economy and welfare of the population of the country.

Taking into account the aforesaid, during this difficult period of the economic and financial situation, which is observed in most countries of the world, we call all our dear citizens, including professional journalists, to take full civil and professional responsibility of these issues, to pay their attention and to draw attention of other citizens to more serious affairs, such as increase in internal production, business development, creation of new workplaces, production in the country, respect to national currency and use of other tools, which promote achievement of these purposes.

Press-service  
NBT