ASTANA, Kazakhstan, November 5. Kazakhstan is seeing a slow but steady climb in inflation this October as it edges up from September's figures, Trend reports
Inflation in Kazakhstan amounted to 8.5 percent year-on-year by the end of October, up from 8.3 percent y/y the previous month.
The uptick in the indicator is largely a result of steeper tariffs for housing and communal services come October. The price of services took a leap to 14.3 percent year-on-year in October, up from 13.6 percent year-over-year in September.
The depreciation of the tenge impacted non-food sectors, resulting in an annual inflation rate of 7.8 percent in the reporting month, an increase from 7.6 percent in September.
International commodities markets maintained a disinflationary impact, with food price rises decelerating to 4.9 percent year-on-year in October, a decrease from 5.1 percent year-on-year in the preceding month.
Kazakhstan is projected to experience the biggest inflation increase among EAEU nations.
From January through August of this year, inflation in all union countries was 7.9 percent. In the corresponding period last year, inflation was recorded at 6.8 percent. The greatest inflation rate was observed in Kazakhstan at 8.8 percent. Kazakhstan exceeded other nations in both yearly and monthly inflation rates. In August, consumer prices increased by 0.6 percent compared to July in the local market.