ASTANA, Kazakhstan, December 13. Kazakhstan's inflation predictions for 2023 and 2024 have been revised downward by the Asian Development Bank (ADB), Trend reports.
Thus, the bank predicts that inflation in Kazakhstan in 2023 will be 14 percent. In the September forecast, inflation was expected at 12.7 percent.
At the same time, the ADB forecasts inflation at 8.7 percent in 2024, while the September forecast expected inflation at 7.6 percent.
Meanwhile, inflation in Kazakhstan slowed down over the year and amounted to 10.3 percent in November 2023 (in October–10.8 percent).
Prices for food products over the year increased by 9.2 percent (in October 2023–10.4 percent), for non-food products - by 9.9 percent (in October 2023–11.1 percent), for paid services - by 12 percent (in October 2023 – 11 percent).
In monthly terms, inflation increased slightly and amounted to 1 percent (previous month - 0.7 percent).
Prices for paid services increased by 1.7 percent, food products - by 0.7 percent, non-food products - by 0.5 percent.