ASTANA, Kazakhstan, March 2. S&P Global Ratings has revealed its inflation forecasts in Kazakhstan for the coming years, Trend reports.
Thus, S&P expects inflation to average 8 percent in 2024, from nearly 15 percent in 2023, and further decline gradually to the National Bank of Kazakhstan's (NBK's) 5 percent target by 2026.
At the same time, the IMF forecasts that inflation will fall to 6 percent in 2024. Next year, it will continue to decline and, according to the forecast, will be 5 percent.
Furthermore, inflation in Kazakhstan slowed down over the year and amounted to 9.8 percent in December 2023 (in November, 10.3 percent).
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).
In monthly terms, inflation decreased slightly and amounted to 0.8 percent (previous month: 1 percent).
