BAKU, Azerbaijan, Jan. 25
Trend:
The prices for socially significant food products decreased up to 9.9 percent in Kazakhstan in 2021 as a result of several anti-inflationary response measures covering 2021-2024, the National Bank of Kazakhstan told Trend.
According to the National Bank, this had a positive impact on the stabilization of food inflation (9.9 percent), which made the main contribution to the general rise in prices.
According to the National Bank, the base rate has been raised three times in total by 0.75 percentage points to 9.75 percent since July 2021. Thus, an inflation rate of 8.5 percent was achieved as of late 2021.
“The inflation rate amounted to 8.4 percent in Kazakhstan as of 2021, which is still higher than the National Bank's rates, and such a big price increase negatively affects the entire economy,” the message said.