Inflation in Kazakhstan remains one of the highest among the countries of the Eurasian Economic Union (EAEU).
According to Ulysmedia.kz, annual inflation in Kazakhstan at the end of November stood at 8.4%, which is the second worst indicator among EAEU states.
According to the Eurasian Economic Commission, the inflation table for EAEU countries is as follows:
- Armenia — 1.4%;
- Belarus — 5.5%;
- Kyrgyzstan — 5.7%;
- Kazakhstan — 8.4%;
- Russia — 8.9%.
Compared to November last year, inflation in Kazakhstan fell by 1.9 percentage points (pp), and in Kyrgyzstan by 2.4 pp. At the same time, inflation increased slightly in Belarus (+0.1 pp) and in Russia (+1.4 pp). Armenia is experiencing the opposite process to inflation — deflation.
By price structure, the dynamics were as follows:
- in Kazakhstan and Kyrgyzstan, the rise in food prices slowed;
- in Armenia, Kazakhstan and Kyrgyzstan, inflation on non-food goods decreased;
- in Belarus and Kyrgyzstan, the rise in service prices slowed.
It has become known that against the backdrop of inflationary dynamics this year, the central banks of the EAEU countries adjusted their key rates:
- the central bank of Armenia reduced its rate to 7.0%;
- the national bank of Kyrgyzstan set its rate at 9.0%;
- the national bank of Belarus kept its rate at 9.5%;
- the national bank of Kazakhstan raised its rate to 15.25%;
- the central bank of Russia set its rate at a record level — 21.0%.
Incidentally, the head of the National Bank, Timur Suleimenov, previously stated that the main factor of inflationary pressure remains the rise in the cost of paid services, which reached 13.3%. According to him, the reasons for this were the implementation of the 'Tariff in Exchange for Investment' programme and a surge in the cost of market services.