Inflation since the start of the year reaches 5.1%: Minister for Economic Development and Trade

Since the start of the year inflation has made up 5.1%, Minister for Economic Development and Trade Kairat Kelimbetov said at a government’s sitting July 26. “Prices for foodstuffs in June were 8% up against December 2010, with prices for nonfoods 2.5% up”, he elaborated. July 8 Kazakhstan’s National Bank Governor Gregory Marchenko had said that he does not rule out that salary raise for public sector employees may affect inflation. “In the recent years monetary income of people has been growing, including through salary raise of public sector employees. This has been driving purchasing power of some people upwards, affecting inflation to some extent”, Marchenko said. Salaries of public sector employees have been raised by 30% since July 1. In the key note address President Nazarbayev promised that salaries of public sector employees and pensions will be doubled by 2012 against 2008. Pensions grew by 30% January 1. According to the State Agency for Statistics, in June inflation stood at 8.4% against June 2010.