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Inflation trends in the regions of the Republic of Kazakhstan in January 2022

A comment by Head of the Real Sector Monitoring Division of NBK Monetary Policy Department Igor Ossipov about inflation trends in the regions of the Republic of Kazakhstan in January 2022 

In January 2022, annual inflation in the country accelerated to 8.5% (8.4% in December 2021). In terms of regions, annual inflation sped up in 10 regions, slowed down in 5 regions and remained unchanged in 2 regions.

The highest acceleration pace was reported in Aktobe Region (from 8.7% in December to 9.2% in January), a slowdown was indicated in Mangistau Region (from 9.2% to 8.7%) and the capital city (from 8.8% to 8.3%).

The growth pace of food prices in January remained at the level of 9.9%, which is the same as a month earlier. Akmola Region demonstrated a maximum increase in prices for goods of this group (11.7%).

The growth in prices for non-food products remained at 8.5%. The peak values ​​were recorded in the Regions of Akmola and Aktobe (10.2% each), the lowest – in Mangistau Region (7.1%).

Prices for paid services rose by 6.8% in January (by 6.5% in December). Significantly above the national level, prices grew in the Regions of West Kazakhstan and East Kazakhstan (8.2% each), while significantly lower growth rate was indicated in Akmola Region (5.3%).

The monthly inflation in the country comprised 0.7%, which is higher than the average of January prices for the past 5 years (0.6% for 2017-2021). Prices in January 2022 grew above their average historical rate in Almaty (1.0%), Aktobe (0.9%) and Karaganda (0.9%) Regions, Shymkent (0.9%), and Akmola (0.8%), West Kazakhstan (0.7%) and North Kazakhstan (0.6%) Regions.

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