ASTANA, Kazakhstan, August 29. Kazakhstan
expects the annual inflation rate to stay throughout the vary of
10–12 % in 2023, Galymzhan Pirmatov, the Chairman of the
National Bank of Kazakhstan, mentioned, Trend reviews.
According to him, for the 12 months 2024, the anticipated annual
inflation is projected to be in the vary of seven.5–9.5 %,
adopted by a spread of 5.5–7.5 % in 2025.
However, he emphasised the necessity for readiness to take care of a
stricter financial coverage in order to realize the inflation goal
of 5 % by the tip of 2025.
Pirmatov mentioned that elements equivalent to fiscal insurance policies, measures
associated to gasoline pricing and utility tariff setting, and the stability
between consumption and financial savings in the economic system will considerably
affect the inflation rate.
Among the principle inflationary dangers highlighted in the forecast
are stress on costs because of home demand, excessive inflation
expectations, higher inflation development in Russia, potential
will increase in world meals costs because of the non-renewal of the
“Grain Deal,” in addition to attainable shocks to produce in home
In July 2023, the annual inflation rate in Kazakhstan reached 14
% (in comparison with 14.6 % in June 2023). The month-to-month
inflation rate for July of the present 12 months stood at 0.6