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Annual inflation reached its 14-year lowest in Kazakhstan

11 april 2012, 17:04
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Chairman of Kazakhstan National Bank Gregory Marchenko. Photo by Yaroslav Radlovskiy©
Chairman of Kazakhstan National Bank Gregory Marchenko. Photo by Yaroslav Radlovskiy©
12-month inflation rate in Kazakhstan has reached 14-year minimum as of April 2012, Tengrinews.kz reports citing chairman of Kazakhstan National Bank Gregory Marchenko as saying at a press-conference in Almaty.

“As of April 1, the 12-month inflation rate made 4.6 percent. This is the lowest value in the last 13-14 years. This is a good result, but it is mainly caused by government's steps to restrain fuel prices and prevent other rates from increasing,” Marchenko said.

He also noted that in general “the annual inflation rate is in a downward trend”. “Speaking of the first quarter, last-year inflation made 3.7 percent, while this year it is 1.1 percent, i.e. there is a general tendency of the annual inflation rate to decrease. A similar process is seen in Russia and other neighboring countries,” Marchenko explained.

According to Kazakhstan's Statistics Agency, inflation made 0.3 percent in March 2012 (vs 0.5 percent in March 2011). Food prices went 0.5 percent up (vs 0.9 percent in 2011), non-food prices grew 0.2 percent (vs 0.2 percent in 2011) and paid services prices increased by 0.2 percent (vs 0.2 percent in 2011).

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