Kazakhstan Inflation June 2020

Kazakhstan

Kazakhstan: Inflation hits over two-year high in June

July 2, 2020

Consumer prices rose a seasonally-adjusted 0.40% from the last month in June, coming in below May's 0.50% rise. June's result marked the softest rise in prices since September 2019. Prices for foodstuffs dropped notably in June, while prices for services rebounded after falling in May.

Inflation rose to 7.0% in June, which was up from May’s 6.7% print. June's reading marked the highest inflation rate since December 2017. In addition, the trend pointed up slightly, with annual average inflation coming in at 5.9% in June (May: 5.8%).

FocusEconomics Consensus Forecast panelists expect inflation to end 2020 at 8.3%, which is unchanged from last month’s forecast. The panel expects inflation to end 2021 at 6.0%.


Author: Angela Bouzanis, Lead Economist

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Kazakhstan Inflation June 20 20 0

Note: Month-on-month changes and annual variation of consumer price index in %.
Source: Republic of Kazakhstan Agency of Statistics.


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