Kazakhstan expects inflation within target corridor of 6-8%

Business Materials 26 December 2017 14:33 (UTC +04:00)

Baku, Azerbaijan, Dec. 26

By Nigar Guliyeva – Trend:

The inflation in annual terms has been within the corridor set by the National Bank of Kazakhstan (6-8%) since the beginning of the year. In November, the annual inflation was at the level of 7.3 percent, while cumulative inflation for 11 months was at the level of 6.3 percent.

Chairman of the National Bank of Kazakhstan Daniyar Akishev announced about this during a briefing dedicated to the presentation of the bill "On Currency Regulation and Currency Control" in Astana on Dec.26.

"According to the results of this year, inflation will remain within the target corridor, and in 2018 it will gradually move to a new target - 5-7 percent in late 2018," he said.

Akishev noted that the rise in energy prices in the beginning and the end of this year caused a short-term effect on inflation.

"According to the Statistics Committee, with an inflation of 7.3 percent, the core inflation rate, excluding certain components, such as fruit and vegetable products, regulated services and energy, was 6.2 percent in annual terms in November," he said.