Inflation expectations down in September - head of Kazakh central bank

13:44, 27 September 2018

ALMATY. KAZINFORM - Inflation is within the target corridor, inflation expectations are becoming stable following a slowdown in inflation, Governor of the National Bank of Kazakhstan Daniyar Akishev has told today's briefing, Kazinform correspondent reports.

According to the Statistics Committee of the Ministry of National Economy, the inflation rate was 2.9% in January-August 2018 and 3.9% in the analogous period a year earlier.

The annual inflation rate, i.e. from August 2017 to August this year, was 6% and is in the middle of the corridor set for 2018, that is, 5-7%. We expect the inflation rate to remain within the target corridor in 2018," Akishev said.

The head of the National Bank also recalled that the National Bank will use the full range of monetary policy tools to attain 4-percent annual inflation rate after 2020.

He also informed of the stabilization of inflation expectations, which are steadily declining after the slowdown in inflation. "Our polls show that one-year-ahead inflation expectations have been lowered from 7.1% at the start of this year to 5.9% in August," Daniyar Akishev said.

National Bank of Kazakhstan Almaty Economy