Kazakhstan's National Bank revises inflation forecast upwardKazakhstan's National Bank has raised its inflation forecast for 2025 to 10.5-12.5% and for 2026 to 9.5-11.5%, citing mounting price pressures from food costs, strong domestic demand, and lower oil prices, the regulator announced Thursday."The upward revision of the inflation forecast for 2025-2026 reflects rising food prices, stronger demand-side inflationary pressures, and declining oil prices," the central bank stated.  "Key risks include heightened domestic demand, accelerating external inflation, and unanchored inflation expectations."The updated projections mark the second upward revision this year, following a March adjustment that set 2025 inflation at 10-12% and 9-11% in 2026.The central bank now expects price growth to only return to its 5% medium-term target by 2027, when inflation should ease to 5.5-7.5% as fiscal support measures wind down. The revised outlook for 2025-2027 reflects multiple pressures: rising global food prices, a recent VAT hike, ongoing utility sector reforms, and higher fuel costs.May's monthly inflation slowed to 0.9% from April's 1.2%, though annual inflation accelerated to 11.3% from 10.7%. The 2024 year-end inflation reached 8.6%, down from 9.8% in 2023. The central bank's medium-term inflation target remains 5%. (ICE ALMATY)

Fonte notizia: INTERFAX