Price Growth In Kazakhstan Slows

Annual inflation in Kazakhstan stood at 11 % at the end of March, according to the Bureau of National Statistics, Orda.kz reports.

In February, annual inflation was 11.7 %. The decrease over the month was 0.7 percentage points.

The Bureau of National Statistics has not yet published data on monthly price growth. Food inflation over the past 12 months amounted to 11.7 % compared with 12.7 % a month earlier, non-food inflation was 11.3 % against 11.6 %, and service prices increased by 10 % compared with 10.8 % in February. Thus, all three main components of consumer inflation slowed in March.

At the end of March, two moratoriums on price increases expired at once: for fuel at petrol stations and for housing and utility tariffs. No extension has been announced, although National Bank head Timur Suleimenov has already called for preventing a sharp rise in prices, which had been frozen for several months.

Since the end of last year, these components — especially cold water tariffs — have made a significant contribution to the slowdown in overall inflation.

Original author: Alexey Afonsky

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