Kazakhstan Inflation September 2017


Kazakhstan: Inflation increases slightly in September

October 2, 2017

Consumer prices rose 0.3% over the previous month in September, up from the 0.1% month-on-month increase recorded in August. September’s result mainly reflected a 1.3% increase in the prices of non-food products, which more than offset a 0.5% decrease in the prices of foodstuffs.

Inflation inched up from 7.0% in August to 7.1% in September. September’s inflation result marked the first rise in inflation since June 2016.

Despite September’s uptick, inflation should ease in 2018 as the economy adjusts to an increasingly stable exchange rate and inflation expectations fall. Annual average inflation fell from 8.8% in August to 8.0% in September, which was the lowest result since March 2016.

The National Bank of Kazakhstan sees inflation remaining within a 6.0%–8.0% target band this year. For 2018, the Bank expects inflation to move within a 5.0%–7.0% target band. FocusEconomics Consensus Forecast panelists expect inflation to end 2017 at 7.2%, which is up 0.1 percentage points from last month’s forecast. Our panel expects inflation to edge down to 6.4% by the end of 2018, which is down 0.1 percentage points from last month.

Author:, Economist

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Kazakhstan Inflation Chart

Kazakhstan Inflation September 2017

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

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