Kazakhstan: Inflation inches down to nearly two-year low in August
September 4, 2017
Consumer prices rose 0.1% from a month earlier in August, matching July’s result. August’s print mainly reflected that higher prices for non-food products and paid services were nearly offset by lower prices for foodstuff.
Inflation inched down from 7.1% in July to 7.0% in August. August’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 9.7% in July to 8.8% in August, which was the lowest print since March 2016.