Inflation in Kazakhstan may accelerate in 2011

"We have reviewed the inflation forecast upward from 8.5 percent to 9.2-9.5 percent. The inflation pace will remain high enough," he said at a press conference in Almaty.

The inflation, however, will not go above 10 percent on the back of the constraining factors, including slow money supply growth, slow lending pace and strengthening of the Kazakhstan currency, he stressed.

Hegai noted that gasoline prices, which may rise by 5 percent- 6 percent by year-end may contribute 0.7 to 1.1 percentage points to the general inflation rate.

The analysts predict the Brent oil prices during the year to come up to 110 to 130 dollars per barrel, but also allow for a higher jump to 135 to 145 dollars and above. "We again expect Brent crude to surge to the maximum levels, as it was in 2008," he said.

Analysts attribute possible oil price hikes to an outpacing oil demand, Kazinform cites Xinhua.

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