ASTANA, Kazakhstan, August 10. 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 8.1 percent in the third quarter and 7.9 percent in the fourth quarter.
At the same time, according to the forecast, inflation at the end of 2024 will be 8.5 percent.
In addition, ING analysts expect inflation to continue falling in 2025. In the first and second quarters of 2025, ING forecasts inflation to be 7.7 percent, falling to 7.4 percent in the third quarter and 7 percent in the fourth quarter.
Moreover, ING analysts expect inflation to reach 7.5 percent by the end of 2025 and 6.7 percent by the end of 2026.
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).