Inflation in Kazakhstan Decreases to 8.4% in August
Inflation in Kazakhstan Slows Down to 8.4% Year-on-Year in August
Inflation in Kazakhstan slowed down to 8.4% year-on-year in August, compared to 8.6% in July, according to the latest report from the Bureau of National Statistics. The prices of paid services increased by 13.6% over the year, while non-food products rose by 7.7% and food products by 5.5%.
Utility rates and the cost of some goods and services also saw an increase in August. Prices for domestically produced new passenger cars spiked by 28.6%, products by 11.6%, clothing and footwear by 11%, furniture and household items by 10.6%, personal goods by 7.8%, and building materials by 5.9%. Coal, firewood, and liquefied gas in cylinders also experienced price hikes.
On the other hand, some food prices went down. Oranges saw a 4.2% increase in price, while sunflower oil, cabbage, and onions also experienced slight increases. However, prices for grapes, sweet peppers, tomatoes, cucumbers, buckwheat, and beets decreased.
At the regional level, the Abai Region saw the highest increase in food product prices by 0.6%, while the Turkistan Region experienced a 1.7% increase in non-food product prices, and Almaty saw a 2.2% increase in prices for paid services.
Overall, despite some price increases in certain goods and services, the overall inflation rate in Kazakhstan has shown a slight slowdown, which is a positive sign for the country’s economy.
