Baku, Azerbaijan, Sept. 3
Trend:
The annual inflation rate in Kazakhstan has amounted to six percent at the end of August 2018, with the target collar of five to seven percent as of the end of this year, the National Bank of Kazakhstan said in a statement Sept. 3.
"Despite the slowdown in the annual growth of prices for food products [the growth rate amounted to 5.1 percent] and paid services [4.9 percent], the dynamics of growth in prices for non-food products [8.2 percent] prevents further reduction in the overall level of inflation," the bank's message said.
It is noted in the report of the National Bank that the nature of the inflationary background is largely determined by the factors on the part of the supply, formally independent of the monetary policy of the National Bank.
"The consumer inflation, in many respects, is influenced by the growth of producer prices, especially in the manufacturing industry, unexpected supply shocks, as well as the expansion of aggregate (consumer and investment) demand," the report said.