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Annual Inflation in Kazakhstan Slows to 8.5%

In May, annual inflation in Kazakhstan slowed to 8.5%, down from 8.7% in April, according to the National Bank of Kazakhstan.

A slowdown in annual inflation was observed in 16 regions, while one region saw an acceleration, and three regions experienced no change, reported the National Bank’s press service.

The highest annual inflation rates were recorded in the Karaganda region and Astana.

Food prices increased by 5.5% year-on-year in May, compared to 6.3% in April. The largest increase in food prices was recorded in Almaty at 8.3%, while the smallest rise was in the Turkestan region at 3.4%.

The rate of price growth for non-food products remained steady at 7.6% annually. The maximum growth was in the Mangistau region at 14.2%, with the minimum in the Almaty region at 5.5%.

Prices for paid services accelerated to 13.9% annually, up from 13.5% in April. The Karaganda region saw the most significant increase at 18.0%, while the smallest rise was in the Ulytau region at 8.3%.

Monthly inflation rose by 0.4% in May, which is below the historical average of 0.5% for May from 2017 to 2021.

TuraNews

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