BAKU, Azerbaijan, June 14. Inflation in Kazakhstan remains high, despite the first signs of stabilization, Governor of Kazakhstan’s National Bank Galymzhan Pirmatov said, Trend reports citing Kazakh media.
In his words, the annual increase in food prices amounted to 19 percent.
"Inflation in Kazakhstan accelerated to 14 percent in May from 13.2 percent in April 2022. Monthly inflation is slowing downbut still remains high and exceeds last year's figures and average annual values," Pirmatov said.
At the same time, he noted that the slowdown in monthly inflation reflects, on the one hand, stable domestic demand against the backdrop of a positive fiscal impulse, and, on the other hand, high inflationary expectations.
"The largest contribution to inflation continues to be the growth in food prices, which reached 19 percent in annual terms. The external inflationary background continues to put upward pressure on the prices of non-food products, the growth of which accelerated from 11.1 percent to 11.9 percent," he said.
Increase in cost of paid services stood at 9.1 percent, despite the deterrent effect of the imposed moratorium on the growth of prices for regulated services.