Comment of the head of the real sector monitoring directorate at the NBK monetary policy department Igor Ossipov on inflationary trends in regions of the Republic of Kazakhstan in December 2021

In December, annual inflation slowed down to 8.4% (8.7% in November). In terms of regions, the annual inflation decelerated in 16 regions and accelerated only in Nur-Sultan (from 8.6% to 8.8%)

The largest slowdown was reported in Turkestan Region (from 9.0% in November to 8.3% in December) and Zhambyl Region (from 8.8% to 8.1%).

Prices for food products in the country decreased making 9.9% (10.9% in November). Maximum growth in prices for food goods was reported in Mangistau Region (11.8%).

Prices for non-food products continue to grow (from 8.3% to 8.5%). Maximum values were recorded in Akmola Region (9.8%) and also in Aktobe Region and Karaganda Region (9.6% each), the lowest – in Mangistau Region (by 7.7%).

Cost of paid services in December increased by 6.5% (6.4% in November). Prices in East Kazakhstan Region rose significantly higher (8.0%) than the national level, in Aktobe Region they are significantly lower (5.3%).

Monthly inflation in the country fell below the average monthly value over the past 5 years and made 0.6% (0.8% for 2016-2020). Prices in December 2021 rose above their historical value only in Nur-Sultan (0.9%) and Aktobe Region (0.8%). In Akmola Region prices stayed put and in other regions monthly paces of price growth were below their historical value.

For more details please visit: https://nationalbank.kz/en/news/inflyacionnye-tendencii-v-regionah/rubrics/1685