National Bank: Monthly Inflation Exceeded Historical Figures

Annual inflation in Kazakhstan accelerated in October and reached 8.5%. Prices began to rise faster in eight regions of the country, Orda.kz reports.

According to the National Bank, annual inflation has grown by 0.2% compared to September. The process accelerated most in Astana and the Mangystau Oblast.

Inflation has slowed in ten regions versus eight (prices remained at the same level in two more regions).

Food prices increased by 4.9% in October, with the most significant price increase felt in Almaty (+7.4%). Non-food products increased in price year-on-year by 7.8% (the most considerable increase, 13.2%, was in the Turkestan Region). 

Services, including utilities, remained the "locomotive" of price growth, rising every month.

Prices for paid services in October accelerated their growth rate to 14.3% year-on-year (in September - 13.6%). At the same time, prices grew significantly higher than the national level in Pavlodar region (18.1%), significantly lower - in Almaty region (8.3%), The National Bank noted.

In October, inflation across the country rose by 0.9% — higher than the historical monthly inflation average of 0.7% for 2017-2021.

Original Author: Nikita Drobny

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