Several policy measures were authorized by the central bank’s Board of Directors in August 2023 in an effort to significantly and sustainably lower inflation.

According to the statement issued on August 11, 2023, NBE’s overarching goal is to bring inflation down to less than 20% by June 2024 and less than 10% by June 2025.

On the most recent data released by the NBE today, the inflation rate decreased to 19.9% in June 2024 (year over year), down from 29.3% at this time last year and 23.30% previous month. (Press Release)