Inflation Tajikistan 2023
Average inflation: 3.5%
Inflation in 2023
Inflation is high at 3.5%, well above the ECB target.
Peak and Trough
The highest inflation was in September at 5.0%. The lowest inflation was in July at 2.1%.
- Highest month
- September: 5.0%
- Lowest month
- July: 2.1%
- Difference
- 2.9 percentage points
- Months with data
- 12 of 12
Historical Context
Inflation is 3.6 percentage points lower than the 5-year average of 7.1%. This approaches the lowest level since records began (3.5% in 2023).
- 5-year average
- 7.1%
- 10-year average
- 6.4%
- All-time high (2008)
- 20.7%
- All-time low (2023)
- 3.5%
Trend
Over the period 2021-2023, inflation shows a downward trend. Compared to 2022, inflation has fallen by 3.1 percentage points.
- Change vs. previous year
- -3.1 percentage points
- Largest monthly swing
- July: -6.2 percentage points
ECB Target
Inflation is 1.5 percentage points above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for TJS 100 this year will cost approximately TJS 103.50 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Month overview
| Month | Inflation | Difference vs. 2022 |
|---|---|---|
| January | 4.1% | -3.8 |
| February | 4.3% | -2.8 |
| March | 3.4% | -3.9 |
| April | 3.2% | -4.1 |
| May | 2.2% | -5.3 |
| June | 2.2% | -6.1 |
| July | 2.1% | -6.2 |
| August | 4.0% | -2.5 |
| September | 5.0% | -0.7 |
| October | 4.3% | -0.8 |
| November | 3.5% | -0.9 |
| December | 3.8% | -0.2 |
| Average | 3.5% |
Data source
Data from WorldBank. Last updated: 06/01/2026.