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Head of National Bank names major causes of inflation growth in Kazakhstan

20 October 2021 11:52

NUR-SULTAN. KAZINFORM – Governor of the National Bank of the Republic of Kazakhstan Erbolat Dossayev named the major causes of recent inflation growth in the country Wednesday, Kazinform correspondent reports.

While speaking at the plenary session of the lower chamber of the Kazakh Parliament, Majilis, Erbolat Dossayev said the recent inflation growth in Kazakhstan had been caused by a number of factors, including rapid recovery of consumer activity, ongoing fiscal economic stimulus and inbalances in separate commodity markets.

The major factor which caused the inflation growth in the country, in his words, is the growing cost of foods. Food inflation has speeded up to 11.5% in September 2021 under the influence of both temporary and more stable factors.

Dossayev added that July-August 2021 saw the all-time high vegetable prices for summer months in Kazakhstan.