ASTANA, Kazakhstan, March 7. The Dutch ING (Internationale Nederlanden Groep) has updated its inflation forecasts in Kazakhstan for the coming years, Trend reports.
Thus, according to the ING, inflation in Kazakhstan in 2023 amounted to 14.8 percent.
At the same time, ING analysts forecast Kazakhstan's inflation will steadily fall in 2024. Thus, inflation will be 9.5 percent in the first quarter of 2024, 8.9 percent in the second quarter, 8.4 percent in the third quarter. Overall, inflation will be 8.6 percent at the end of 2024.
In addition, inflation in Kazakhstan will continue to fall in 2025, reaching 7 percent at the end of the year.
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).
