Inflation in Kazakhstan may exceed last year's figures - National Bank

By Trend

Inflation in Kazakhstan in 2022 may exceed last year's figures, Trend reports via the National Bank of Kazakhstan.

According to the bank, the actual inflation has significantly exceeded the forecasts against the backdrop of boosting inflationary expectations.

"The general level of prices is growing. The inflation recorded in May and June of this year showed that its peak hasn't been passed. High inflationary expectations increase pro-inflationary pressure," the bank said.

Besides, according to the bank, given the absence of new shocks, annual inflation growth will continue until the first quarter of 2023 and will further slow down.

The bank also noted that the stability of ongoing inflationary processes, fiscal stimulation of demand and the external pro-inflationary background will require maintaining the current levels of the base rate for a long time to stimulate cost-efficiency behavior of the population, which will gradually affect inflation over the next year.