Comment of Head of the Real Sector Monitoring Division of NBK Monitory Policy Department Igor Osipov 

In February 2023, annual inflation in the country accelerated and made 21.3% (20.7% in January). In terms of regions, annual inflation sped up in 17 regions and slowed down in 3 regions.

The highest values of annual inflation were recorded in Mangystau region, Astana city, and Akmola region.

Growth pace of food products in February increased by 26.2% YoY (25.7% in January). The highest increase in prices for goods in this group was observed in the Mangystau region (32.1%), while the lowest was in Almaty city (24.6%).

Growth rate of prices for non-food products accelerated to 20.5% YoY (20.2% in January). The maximum value was recorded in Astana city (31.3%), while the minimum was in Almaty region (16.1%).

Prices for paid services in February rose by 15.0% YoY (14.2% in January). At the same time, prices rose significantly higher than the national level in Akmola region (20.2%) and significantly lower in Shymkent city (11.2%).

In February 2023, the monthly inflation rate in the country accelerated to 1.3%, which is significantly higher than the average February inflation rate over the past 5 years (0.6% for 2018-2022).

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