Comment of Head of the Real Sector Monitoring Division of NBK Monetary Policy Department Igor Ossipov

In August 2022, annual inflation in the country accelerated and made 16.1% (15.0% in July). In terms of regions, annual inflation sped up in 20 regions.

The highest acceleration was reported in Ulytau Region (from 15.7% in July to 18.6% in August).

Growth pace of foodstuff prices in August rose to 20.8% year-on-year (19.7% in July). Maximum increase in prices for goods of this group was reported in Mangistau Region (25.8%).

Growth rate of prices for non-food products grew to 15.5% year-on-year (14.2% in July). Maximum value was reported in Nur-Sultan City (21.6%), and minimum in Almaty City (12.5%).

Prices for paid services in August rose by 10.1% year-on-year, meanwhile prices rose significantly above the national level in Ulytau Region (15.8%), significantly lower in Aktobe Region (6.3%).

Monthly inflation in the country was 1.4% in August 2022, which is much higher than the average value of August inflation for the past 5 years (0.2% for 2017-2021).

Prices in August 2022 grew in all the regions above their average historical rate. The highest value of the monthly inflation was reported in Ulytau Region (2.7%).

For more details please visit: nationalbank.kz/en/news/inflyacionnye-tendencii-v-regionah/rubrics/1768

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