CPI inflation in Kazakhstan slows to 5.4% y/y in September.

By bne IntelliNews October 2, 2013

In September, the CPI inflation in Kazakhstan has slowed down to 5.4% y/y compared to 5.8% y/y recorded in August, the State Statistics Agency has announced. In m/m terms, inflation made up 0.2% in the reported month same as in August.

According to the Agency, food prices in Kazakhstan last month fell by 0.2% m/m, while non-food goods went up by 0.2% m/m, paid services increased by 0.6% m/m.

In September, the prices of solid fuel in Kazakhstan rose by 0.5%, diesel fuel - by 0.3%, and gasoline - by 0.2%. The newspapers and periodicals increased by 0.4%, clothing and footwear - by 0.3%, pharmaceutical products - by 0.2%. As for food prices, a reduction in price was observed for potatoes - 10.7%, fresh vegetables - 8.4%, fresh fruit - 2.6%, buckwheat - 0,9%, sugar - 0.5%, sunflower oil - 0.3%.

On the other hand, the increase in prices was recorded for eggs - by 3.7%, rice - by 2.2%, semolina - by 1.8%, raw milk - by 1.5%, cottage cheese - one%, kefir - by 0.8%, pearl barley - 0.7%, tea, meat and poultry - by 0.6% each, confectionery products - by 0.3%. In the reporting period the prices of education services grew by 4.1%, health care services - by 3.1%, restaurants and hotel services - by 0.5%, leisure, entertainment and culture services - by 0.4%, prices at hairdressers and personal service establishments - by 0.3%, according to the Agency’s report.

Since January 2013 the structure of the CPI the share of food products has been 38.1 %, non-food - 31.6 %, paid services - 30.3 %.

Inflation rate remains below the expectation of the government which assumes 6-8% inflation this year. Still, after exclusion of the seasonal factors in summer, inflation is likely to match the planned corridor in the end of the year.

Related Articles

US investor reportedly to replace CEFC in refinery deal with KazMunayGas

A US investor backed by Overseas Private Investment Corporation (OPIC) might replace troubled China Energy Company Limited (CEFC) and take over 51% of KazMunayGas International ... more

ADB sees general Central Asia slowdown in 2018

The Asian Development Bank’s (ADB’s) Asian Development Outlook anticipates a general slowdown across the Central Asian region, with the exceptions of Uzbekistan, where the development bank ... more

Kazakhstan mulls ban on cryptocurrencies

Kazakhstan’s central bank is considering a ban on cryptocurrency use, exchanges, and mining, Daniyar Akishev, the chairman of Kazakhstan’s National Bank, told ... more