(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 10. Kazakhstan's inflation rate showed further signs of deceleration in
May, recording a year-on-year figure of 15.9 percent, compared to
16.8 percent in the previous month, trend reports.
The Eurasian Development Bank said the country has
surpassed the peak of price growth, signaling a slowing
inflationary trend. Moreover, the bank predicts a more significant
reduction in inflation at the end of 2023 as the effects of the
migration shock from last autumn gradually dissipate.
Meanwhile, the EDB forecasts a deceleration in
consumer price growth, projecting a rate of 7.9 percent by the end
of the current year, 5.5 percent in 2024 and 4.1 percent in
2025.
In April, the inflation rate in Kazakhstan slowed down
from 18.1 percent in the previous month to 16.8 percent.
As the bank noted, this is partly due to the ease in
the pressure from the external sector: the FAO Food Price Index
index has been declining for the thirteenth month in a row, and the
drop in the cost of shipping indicates that the functioning of
global supply chains is returning to normal.
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