Kazakhstan: Inflation moderates to more than three-year low in January

Consumer prices rose 0.5% over the previous month in January, following a 0.7% month-on-month upturn in December. Alcoholic beverages and tobacco products recorded the biggest price increase, followed by food and non-alcoholic beverages, which more than offset declines in housing, water, electricity, gas and other fuels, and transport.

Inflation inched down to 5.2% in January from 5.3% in December—the lowest print since September 2015. Meanwhile, annual average inflation inched down to 5.9% in January from 6.0% in December.

Kazakhstan Inflation Forecast

FocusEconomics Consensus Forecast panelists expect inflation to end 2019 at 6.0%, which is up 0.1 percentage points from last month’s forecast. The panel expects inflation to decelerate and end 2020 at 5.2%.