Analysts forecast Kazakhstan's annual inflation to range from 11.8% to 12.1% in AugustAnnual inflation in Kazakhstan is forecast to rise to between 11.8% and 12.1% in August, according to a consensus of analysts surveyed by Interfax-Kazakhstan. This follows a six-month period of accelerating inflation that paused in July, holding steady at the June rate of 11.8%.Analyst Daniyar Orazbayev of Freedom Finance Global expects the annual rate to remain unchanged at 11.8%. He pointed to slower price growth for socially significant food products in August compared to May and June, with an increase of just 0.1% in the first 19 days of the month. He also cited an unexpected slowdown in service price growth in July and a high base from last year as reasons to expect neutral inflation dynamics for the month.In contrast, Arman Beisembayev, an expert with the Tickmill brokerage group, forecasts an acceleration to 12%, citing continued price increases in food, utilities, and fuel. He expects annual inflation to gain 0.2 to 0.4 percentage points, adding that the disinflationary effect of seasonal decreases in produce prices is set to fade in September.The Association of Financiers of Kazakhstan (AFK) provided the highest forecast, predicting that annual inflation could reach 12.1%. The AFK projects monthly inflation for August to be between 0.7% and 0.9%. The association stated that upward pressure from rising global food prices, fuel costs, and the pass-through effect of the tenge's depreciation is being balanced by a recent freeze in prices for staple food items, a temporary hold on regulated service tariffs, and seasonally low produce prices.In a medium-term outlook, Deputy Prime Minister and Minister of National Economy Serik Zhumangarin recently announced the government's forecast for inflation to slow to no more than 10% in 2026 and further down to 6% in 2027 and 2028. This aligns with the National Bank's goal of stabilizing inflation near 5%. Inflation in Kazakhstan had decelerated to 8.6% for the full year 2024, down from 9.8% in 2023. (ICE ALMATY)

Fonte notizia: INTERFAX