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    Kazakhstan

    Annual inflation in Kazakhstan moderates to 9.8% in December

    Annual inflation in Kazakhstan moderates to 9.8% in December

    On January 3, DataHub released a report indicating that the annual surge in prices for goods and services in December reached 9.8%, marking a 0.5% decrease compared to November, the Astana Times reports.

    Kazakhstani tenge.
    Source: Banknote World

    The Bureau of National Statistics highlighted that throughout 2023, this economic indicator has consistently exhibited a declining trend since March.

    The most notable price surge was observed in paid services, experiencing a significant growth of 12.4%. In the non-food sector, inflation stood at 9.1%, notably driven by increases in diesel fuel by 15.2%, gasoline by 13.7%, and liquefied gas in cylinders by 13.6%.

    Within the food sector, the annual growth in prices was relatively more moderate, registering at 8.5%. Noteworthy increases include rice, which saw a substantial surge of 34.3%, while buckwheat experienced a decrease of -22.6%, and sunflower oil dropped by 18%.

    For December, the monthly inflation rate was 0.8%, indicating a slowdown compared to November. Specifically, food prices increased by 0.9%, paid services by 0.8%, and non-food products by 0.5%.

    Earlier, it was reported that in data released by the CBU, Uzbekistan's inflation forecasts have exhibited a downward trend following a minor uptick in November. The November survey indicates a decrease in the average expected inflation rate for the upcoming year, now standing at 13.6%, down by 0.1% compared to October. The median has also seen a reduction of 0.2%, settling at 10.9%.

     

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    05.01.2024, 00:02   Comments (0)   2449
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