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Kazakh National Bank reveals inflation figures for January 2023

Kazakhstan Materials 16 February 2023 20:44 (UTC +04:00)
Kazakh National Bank reveals inflation figures for January 2023
Emin Sevdimaliyev
Emin Sevdimaliyev
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BAKU, Azerbaijan, February 16. Kazakh inflation reached 20.7 percent in January 2023, Igor Osipov, Head of the Real Sector Monitoring Department, said, Trend reports, citing the National Bank of Kazakhstan.

This is an increase of 0.4 percent compared to December 2022.

The inflation accelerated by 1.1 percent in January, which is considerably higher than the average January growth recorded between 2018 and 2022.

Food prices increased by 25.7 percent in year-on-year terms in January. In comparison, this indicator amounted to 25.3 percent in December 2022. The largest increase amounting to 31.5 percent was recorded in Mangystau region, while the smallest growth of 23.8 percent was recorded in Almaty region.

Non-food prices also increased by 20.2 percent in year-over-year terms. Prices for this category of goods increased by 31.7 percent, while the minimal growth rate of 15.9 percent was recorded in Almaty region.

Meanwhile, prices for paid services increased by 14.2 percent year-over-year (14.1 percent in December 2022). Akmola region registered higher inflation than the national average (18.4 percent), while Almaty region reached only 11.4 percent.

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