BAKU, Azerbaijan, Oct. 25
Trend:
Kazakhstan’s annual inflation rate in September 2021 amounted to 8.9 percent, Trend reports with reference to the press service of Kazakhstan’s National Bank.
Food inflation in September 2021 in Kazakhstan continued to accelerate, despite the seasonal decline in prices for fruits and vegetables, and amounted to 11.5 percent in annual terms.
The main units for food inflation are the annual growth in prices for meat (10.3 percent), bakery (8.7 percent) and dairy products (8 percent), as a result of the growth in the cost of producers with an increase in prices for forage crops, diesel fuel, electricity and wheat.
Non-food inflation at the end of September 2021 amounted to 7.5 percent in annual terms. The main contribution to this acceleration was made by the annual growth in prices for household items, clothing and footwear, fuels and lubricants and solid fuels. Prices for clothing and footwear are growing due to higher prices for imported goods, recovery in consumer demand and growth in real money incomes of the population. In turn, prices for fuels and lubricants and solid fuels increased due to higher costs and recovery of economic activity.
In addition, paid service inflation accelerated in September 2021 to 6.8 percent. The dynamics was due to the rise in prices for regulated services - by 5.6 percent, education services - by 8.4 percent - and rental housing - by 18.6 percent. Among the regulated services in September, there was an increase in prices for electricity - by 8.3 percent - and liquefied gas transported - by 6.4 percent.
"Inflation expectations remain at an elevated level. At the same time, there is a gradual decrease from the maximum values recorded from July through August 2021. In September 2021, the quantitative estimate of inflation for the year ahead increased and amounted to nine percent.