Kazakhstan: Inflation inches up in September

Consumer prices increased 0.4% over the previous month in September, following a 0.2% month-on-month rise in August. Prices were higher for 10 out of the total 12 categories, led by education. Meanwhile, prices for the remaining two categories—food and non-alcoholic beverages, and transport—were unchanged from last month.

Inflation inched up to 6.1% in September (August: 6.0%), remaining within the Central Bank’s target range of 5.0%–7.0%. Annual average inflation came in at 6.6% in September, matching August’s reading. It was the lowest print since December 2015.

Kazakhstan Inflation Forecast

FocusEconomics Consensus Forecast panelists expect inflation to end 2018 at 6.4%, which is up 0.3 percentage points from last month’s forecast. The panel expects inflation to end 2019 at 5.9%, which is also up 0.3 percentage points from last month.