ASTANA, Kazakhstan, May 14. The Dutch ING (Internationale Nederlanden Groep) has updated its inflation forecast for Kazakhstan in the upcoming years, Trend reports.
According to ING, Kazakhstan's inflation will gradually decline in 2024. Thus, inflation will be 8.9 percent in the second quarter of 2024, 8.6 percent in the third quarter, and 8.4 percent in the fourth quarter.
In addition, ING analysts expect inflation to continue falling in 2025. In the first quarter of 2025, ING forecasts inflation to be 8.1 percent, falling to 7.8 percent in the second quarter and 7.4 percent in the third quarter.
Furthermore, Kazakhstan's inflation slowed down over the year and amounted to 9.8 percent in December 2023 (in November, 10.3 percent).
Over the year, prices for food products increased by 8.5 percent (in November 2023, 9.2 percent), non-food products by 9.1 percent (in November 2023, 9.9 percent), and paid services by 12.4 percent (in November 2023, 12 percent).
In monthly terms, inflation decreased slightly and reached 0.8 percent (previous month: 1 percent).