Kazakhstan had 0.4% inflation in June, annual figure 8.4%

ALMATY. July 1 (Interfax) - Inflation in Kazakhstan slowed to 0.4% in June 2024, the Strategic Planning and Reforms Agency's National Statistics Bureau said.

Annual inflation was 8.4%.

In June 2024, prices for food products increased by 5.4% compared with the previous month, prices for non-food goods grew 7.4% and services charges went up 3.8%.

Analysts polled by Interfax predicted annual inflation at 8.4-8.7% in June.

Annual inflation was above average in nine regions, most of all in the Karaganda (10.8%) and Mangistau (10.3%) regions and in Astana (10.1%).

Compared to June last year, tariffs for waste-water disposal in Kazakhstan increased 43.5%, cold water - 36.7%, central heating - 33%, electricity - 31.7%, refuse disposal - 30.7% and hot water - 30.4%.

Housing rent went up 11.1%. Prices for hairdressing salons and personal services rose 13.6%, for recreation and sporting events - 13.3%, healthcare - 12.7%, cellular communications - 12.4%, funeral services - 12 %, all-inclusive recreation services - 11.5%, housing repairs - 9.7% and sanatorium and catering services - 9.4%. Taxi fares increased 12%, city buses - 10.1%, rail transport - 8.3% and long-distance buses - 2.9%.

Prices for new passenger cars assembled in Kazakhstan increased 21.7%, pharmaceutical products - 11.2%, clothing and footwear - 11.1%, furniture and household items - 10.1%, personal goods - 8.4%, building materials - 6.2%, coal - 10% and liquefied gas in cylinders - 9.7%.

Price rose for mineral and drinking water - 16.3%, fresh fruits - 15.7%, rice - 12.5%, alcoholic beverages and tobacco products - 12.3%, eggs - 12.1%, nonalcoholic beverages - 11.9%, fruit and vegetable juices, fresh fish - 11%, confectionery - 10.7%, butter - 10.4% and wheat bread from premium flour - 9.1%. Prices fell for onions -40.4%, buckwheat - 23.1%, sunflower oil - 22.3%, cabbage - 22.1% and granulated sugar - 5.6%.

Kazakhstan had 9.8% inflation in 2023 compared to 20.3% in 2022. The National Bank aims to stabilize inflation close to 5% in the medium term and expects 7.5-9.5% inflation this year.