CPI inflation in Kazakhstan slows to 6.8% y/y in March.

By bne IntelliNews April 2, 2013

CPI inflation slowed to 6.8% y/y in March, the State Stat Agency has informed. Services contributed the most significantly as they increased by 13.1% y/y which is however slower than 13.4% observed in February. Prices for services were pulled up by growing costs of the housing and public utilities. Food prices went up by 4.7% y/y in comparison to 5% seen in previous month while non-food prices remained at the same level of 3.3% y/y in March. In m/m terms inflation made up 0.2% wit food and non-food prices growing by 0.2% m/m and prices for services remaining at the level seen in February. The National Bank of Kazakhstan and the government expect inflation to stay in 6-8% y/y range this year. To remind, inflation reached 6% y/y last year, down from 7.8% y/y reported in 2011. The slowdown in inflation prompted the NBK to several cuts in refinancing rate, which has stayed at 5.5% since August 2012.

Related Articles

Evolution Equity Partners closes $125mn cybersecurity-focused fund

Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more

Kazakhstan begins new trial of businessman charged with attempted coup d’etat

A new trial of Kazakh businessman Tokhtar Tuleshov began on July 13, in which he ... more

Kazakhstan signs law preventing “ordinary” Kazakhs from running for office

Kazakh President Nursultan Nazarbayev signed into law on July 11 a measure allowing only Kazakh citizens with at least five years of experience at government posts to register ... more