Inflation in Kazakhstan Falls Below 10% for First Time Since February 2022

ASTANA – The annual increase in prices for goods and services in December hit 9.8%, 0.5% less than in November, DataHub reported on Jan. 3.

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Throughout 2023, the indicator has consistently fallen since March, according to the Bureau of National Statistics.

The most noticeable price increase was recorded in paid services, which grew 12.4%.

Inflation in the non-food sector stood at 9.1%, with diesel fuel rising by 15.2%, gasoline by 13.7%, and liquefied gas in cylinders by 13.6%.

The annual growth in food prices was the most restrained, with an 8.5% growth. Rice has risen by a significant 34.3%, while buckwheat (-22.6%) and sunflower oil (18%) have fallen in price.

Monthly inflation totaled 0.8% in December, slowing down from the November indicators. Food prices increased by 0.9%, paid services by 0.8%, and non-food products by 0.5%.

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