Over the year, products rose by 9.7% in Kazakhstan - the National Bank.


Food products in Kazakhstan have risen in price by 9.7% since the beginning of the year. This was announced at a government meeting by the Chairman of the National Bank of the Republic of Kazakhstan, Yerbolat Dosaev, a Kazpravda.kz correspondent reports.

“Annual inflation is in line with our expectations and, according to the results of October, amounted to 5.5%, having increased from 5.3% in September. The largest contribution to inflation continues to be made by rising prices for foodstuffs. The annual increase in prices for them reached 9.7% " said Dosaev.

Of particular note is the increase in prices for bakery products and cereals - by 14%, meat and meat products - 13.8%, fish and seafood - 12.7%. In October, the annual growth in prices for fruits and vegetables accelerated to 7.6% compared with 3.5% a month earlier.

"The increase in prices for non-food products slowed down to 5.2% from 6.4% in December and 6.5% in October of the previous year due to a decrease in gas prices by 4.6%. The increase in prices and tariffs for paid services remains historically minimum levels - 0.8% in annual terms. Tariffs for regulated services in October of this year decreased by 7.7% in annual terms. The main risks for inflation are rising food prices on world markets, as well as the expansion of domestic demand amid increase in population incomes, while these risks are offset by lower “as expected, inflation in countries - the main trading partners, as well as easing external monetary conditions,” continued Dosaev.

According to him, before the end of this year, the inflation rate is estimated at 5.7-5.8%, that is, within the targeted corridor at 4-6%.