Kazakhstan to adopt new methodology for inflation data calculationA pilot project for the introduction of a new methodology for calculation for inflation data will start in Kazakhstan in May 2024, the government’s press service said in a Tuesday statement.The launch of the new methodology was discussed at a Tuesday meeting of the government chaired by Deputy Prime Minister Serik Zhumangarin.The head of the National Statistics Bureau, Maksat Turlubayev, told the meeting that experts from the International Monetary Fund (IMF) had visited Kazakhstan to later provide recommendations for the introduction of the new methodology. According to the recommendations, the monthly inflation rate will be calculated using data for previous three weeks but not on a weekly basis as earlier; all data will be analyzed for representativeness to reflect the real spending by households and to calculate experimental indices for certain groups of goods.Along with the new technology for inflation data calculation, Kazakhstan will develop a national catalogue of goods to ensure a thorough and transparent monitoring of staples prices in the retail and wholesale chains, the press release says.The existing system for inflation monitoring involves a long and cumbersome process of collecting and analyzing data on prices. The database of the Fiscal Data Operator today lacks any classification and codification of goods. Therefore, a national catalogue of goods should be adopted in order to simplify the data processing procedures and to increase the reliability of the data, the press service said. (ICE ALMATY)

Fonte notizia: INTERFAX