Kazakhs resigned to rising prices – National Bank

Annual inflation in Kazakhstan slowed to 5.9% in June. This is the minimum level since October 2015, said the chairman of the National Bank of Kazakhstan Daniyar Akishev.

The most stable were the prices of vegetables and fruits. Here, growth was only 4.9%. Exactly one year ago, inflation in the agricultural market was 18.9%.

"There is a slowdown in the growth of consumer goods prices of domestic producers.For January-June growth has slowed from 3.4% to 1.9% in annual terms. We do not expect a significant slowdown in the annual inflation rate before the end of the year Akishev says:

At the same time, the risks of rising inflation continue because of the rise prices in the manufacturing industry in the context of inflation, rising prices of mining products in May and June

The producer price index of The mining industry grew in annual terms from 22.7% in April to 36.2% in June. According to the National Bank, prices rose 9.4% in May and June

According to the results of the investigation, it appeared that the Kazakhs began to panic less because of possible price increases. population inflation improves. The proportion of respondents who believe that prices of goods and services have increased faster than in the past 12 months continued to decline to 44.2% in June, the lowest value for a year and a half. At the same time, the highest historical value, 22.5%, is evidenced by the proportion of respondents who noted a lower inflation rate or a declining consumer price dynamic over the past 12 years. month compared to the same previous period. Of course, as a determining factor in the choice of savings currency.

"This is evidenced by the growth in tenge deposits.In spite of the weakening of the tenge in the last two months, deposits in the tenge rose by 0.2% in May and 2, 4% in June, according to preliminary data, "concluded the president.

During this period, the banks of Kazakhstan for the months of May and June, regardless of exchange rate differences, decreased by 2, 3% and 1.2%.