ASTANA, Kazakhstan, July 17. The Asian Development Bank has published forecasts for inflation in Kazakhstan for 2024 and 2025, Trend reports.
According to ADB, from January through May 2024, Kazakhstan’s inflation rate slowed to 9 percent, down from 18.5 percent in the same period in 2023, due to a stable exchange rate and relatively tight monetary policy.
As the forecast reads, the inflation in Kazakhstan in 2024 will be 8.7 percent. This corresponds to the last forecast, which was published in April 2023.
At the same time, the ADB forecasts 6.3 percent inflation in 2025.
Furthermore, inflation in Kazakhstan has decreased over the last year, falling to 9.8 percent in December 2023 (from 10.3 percent in November).
Food prices 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.
Monthly inflation declined slightly to 0.8 percent (down from 1 percent the previous month).