Inflation rates increased in 17 regions on an annual basis
Headline: Inflation and Price Trends in Kazakhstan for August 2022
In August 2022, the inflation rate in Kazakhstan increased to 12.2%, up from 11.8% in July, according to the latest data. This marks the seventh consecutive month of inflation acceleration in the country.
The monthly inflation rate for August was 1.0%, a slight increase from the 0.9% recorded in July.
In terms of food prices, the highest increase was observed in Ulytau region, with a year-on-year growth of 14.8%. This is an increase from the previously reported 11.7% in July. Contrastingly, the lowest food price increase was recorded in Almaty city, with a growth of 8.7%, down from the earlier reported 9.3% in July.
The growth in prices for non-food goods was also up in August, reaching 9.7% year-on-year, compared to the 9.5% recorded in July. The maximum value for this growth was recorded in Abai region, with a 12.6% increase, while the minimum was in Almaty city, with a 7.5% increase.
The pace of price growth for paid services also accelerated in August, reaching 15.3% year-on-year, up from 14.9% in July. The growth for paid services was significantly below the national average in Mangystau region, with a 9.8% increase.
Interestingly, the tenge currency strengthened by 0.4% in August, reaching 538.60 tenge per US dollar.
Inflation accelerated in 17 regions in August, while deceleration was observed in 3. This indicates a mixed picture of economic conditions across the country.
These figures provide a snapshot of the current economic climate in Kazakhstan, offering insights into the trends in inflation, food prices, non-food goods prices, and paid services prices. Further analysis will be needed to understand the underlying causes and potential impacts of these trends.
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