ASTANA, Kazakhstan, January 7. The Department of Economic and Social Affairs of the United Nations (UN), in its 'World Economic Situation and Prospects 2024' report, published forecasts for inflation in Kazakhstan for the next couple of years, Trend reports.
According to the report, inflation in the country in 2023 was 14 percent.
At the same time, the UN predicts that at the end of 2024, inflation in Kazakhstan will almost halve and amount to 8 percent.
In addition, the inflation rate in 2025 will continue to decline and amount to 5.8 percent.
Meanwhile, inflation in Kazakhstan slowed down over the year and amounted to 9.8 percent in December 2023 (in November, 10.3 percent).
The country's Bureau of National Statistics' data shows that prices for food products over the year increased by 8.5 percent (in November 2023, 9.2 percent), for non-food products, by 9.1 percent (in November 2023, 9.9 percent), and for paid services, by 12.4 percent (in November 2023, 12 percent).
Furthermore, the Ministry of National Economy of Kazakhstan predicts a decrease in inflation to 6–8 percent in 2024 and 5.5–7.5 percent in 2025.
At the same time, according to the ministry’s forecasts, in 2026–2028, inflation will be at the level of 5 percent.
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