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Kazakhstan Predicts Inflation to Stay at 5-7% in 2018

Thursday 25 January 2018

ALMATY (KazInform) — In 2018, inflation rate in Kazakhstan is forecast in the corridor of 5-7%, Daniyar Akishev, Chairman of the National Bank of the Republic of Kazakhstan, said Thursday.

“We expect annual inflation to slow down gradually in 2018 and project it to be in the corridor of 5-7%”, Mr. Akishev announced at a press conference on January 25. He reminded that annual inflation made 7.1% in 2017, which correspondent to the initial target corridor of 6-8%. “Inflation slowed down amid predictable and adapted monetary policy of the National Bank and a stable situation in the global commodity and food markets”, the Chairman of the Bank elaborated.

Akishev pointed out a significant slowdown in inflation was indicated by the core inflation measure, without taking into account the volatile components. Over the reporting period, that indicator slid from 8.9% to 6.2%. “Based on the results of the population survey in December 2017, the quantitative assessment of inflationary expectations for 2018 decreased to 7.1%”, he added.

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