Kazakhstan plans to keep inflation within 4-6%
Baku, Azerbaijan, July 3
It is planned to keep inflation within a 4-6 percent in Kazakhstan in 2019, the Minister of National Economy Timur Suleimenov said July 3, Kazakh media reported.
The minister noted that inflation was kept at the level of 5.9 percent during the first half of this year.
"We received the results of inflation for the half-year yesterday, and we have good news. The inflation fell below the 6 percent mark for the first time in a long period, and it amounted to 5.9 percent. I would like to stress specially that, inflation in food products was minus 0.1 percent. We have gone into the category of deflation. While it was 0.7 percent last year and increased over this period, we have minus 0.1 percent this year, and this is a good indicator," Suleimenov said.
Suleimenov also noted that, the basic inflation benchmark of 5-7 percent, which the Ministry of National Economy predicted for this year, has been maintained. The ministry intends to achieve a level of 4-6 percent rather than a 5-7 percent inflation rate starting from the next year.
"We, as the government, and as the ministry, will make every effort to sustain this percentage corridor," the minister said.