Kazakhstan: Inflation declines to nearly two-year low in July
August 10, 2017
Consumer prices rose 0.1% from a month earlier in July, coming in below June’s 0.4% print. July’s print mainly reflected how higher prices for industrial goods and transportation were nearly offset by lower prices for agricultural products
Inflation declined from the 7.5% tallied in the previous three months to 7.1% in July. July’s print represented the lowest rate since September 2015. Inflation has been moderating in recent months after falling substantially in the latter half of last year as a result of a base effect.
Inflation should continue easing as the economy more fully adjusts to an increasingly stable exchange rate and the recovery in global energy prices. Annual average inflation fell from 10.5% in June to 9.7% in July, which was the lowest print since March 2016.
Author: Christopher Thomas, Economist