ASTANA, Kazakhstan, May 18. Fitch Ratings predicts a consistent decline in inflation in Kazakhstan in the coming years, Trend reports.
According to Fitch, inflation in Kazakhstan will be 8.6 percent in 2024 and 7.5 percent in 2025.
As Fitch noted, inflation fell to 8.7 percent in April from 16.8 percent a year earlier, with food price inflation easing to 6.3 percent and currency appreciation since October 2023 more than offsetting utility tariff hikes.
In addition, Fitch anticipates the policy interest rate will be cut from 14.75 percent to a level consistent with a real rate of near 4 percent next 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).