BAKU, Azerbaijan, Nov. 15
Trend:
Kazakh Prime Minister Askar Mamin has unveiled the measures which are being taken to reduce the inflation rate, Trend reports referring to a correspondent of Kazinform news agency.
“Indeed, today we see a high level of inflation, which is being formed not only in Kazakhstan but in general on the world markets,” Mamin said while answering questions during a meeting with journalists.
The Kazakh prime minister added that for example, the food inflation according to the UN data reaches 30.1 percent, this is the highest indicator during the last 10 years.
Mamin stressed that the five-year high of inflation is 8.1 percent in neighboring Russia, an almost a thirty-year high in the US, a 15-year high in Europe.
“As Kazakhstan is part of the global economy, these processes have affected us as well,” the prime minister said. “So far, the inflation rate in Kazakhstan is 8.9 percent, but thanks to the taken measures, the situation has recently stabilized.”
“The food inflation has recently stabilized at 0.2 percent and our task is to reach the level up to 8.5 percent, we are now working to solve this problem,” Mamin said.
“The issue is to curb trade margins,” Mamin added. “We have a 15 percent limit today. But today the work is being carried out to reduce the trade markup to 10 percent.”