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Kazakhstan shares forecast on inflation rate in 2022-2023

Kazakhstan Materials 5 December 2022 14:19 (UTC +04:00)
Kazakhstan shares forecast on inflation rate in 2022-2023
Maryana Ahmadova
Maryana Ahmadova
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BAKU, Azerbaijan, December 5. The inflation rate in Kazakhstan in November 2022 stood at 19.6 percent, Trend reports, citing the press statement of the National Bank.

The economists of the National Bank expect the annual inflation in 2022 to range from 20 to 21 percent.

Monthly inflation in Kazakhstan remains significantly higher than multiyear averages, despite the demonstrated slowdown. The National Bank considers this to be a result of high external inflation, increased consumption, and the ongoing reorientation of consumer goods import logistics chains to new trade routes.

In 2023, the regulator updated the inflation projection and expects it to change from 11 to 13 percent, due to continued structural change of the trade, high inflationary expectations, and a disinflationary exogenous environment.

Early estimates made by the National Bank suggest that inflation may decrease in 2024 and change in the corridor from 7 to 9 percent.

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