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National Bank of Kazakhstan told about inflationary expectations

07.12.2021, 14:50 323777
National Bank of Kazakhstan told about inflationary expectations
Deputy Chairman of the National Bank of the Republic of Kazakhstan Akylzhan Baimagambetov spoke about expectations for inflation and external factors that affect its formation.

This is a worldwide rise in food prices. In many countries around the world, record levels of inflation remain. Food prices are rising due to disruptions in supply chains and reduced supply due to adverse weather conditions. The FAO Food Price Index has been growing for the fourth month in a row. In November this year, the index reached 134.4 points - this is the highest level since June 2011", said Baimagambetov.

He stressed that thus, external food prices for the year increased by 27.3 percent, Kazpravda.kz reports.

Of particular note is the rise in inflation in Russia, our major trading partner or even the main trading partner in terms of imports. Inflation there reached a five-year high, accelerating to 8.1 percent in October 2021. This is twice their target corridor. Taking into account the high share of Russian imports, high inflation in Russia certainly affects domestic prices. With the increased prices for goods, we also import inflation," Baimagambetov concluded.

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