Comments of Zhandos Shaimardanov, Director of Department for Monetary Policy of the Republic of Kazakhstan, on the inflation trends in November, 2020

National Bank of Kazakhstan started to release a short review of the inflation processes “Inflation Trends” in Kazakhstan on a monthly basis. The review contains the analysis of the inflation processes and components of inflation, including the factors underlying these trends.

In November 2020 the annual inflation accelerated to 7,3 percent. The main input is made by the price growth for groceries that rose by 10.8 percent. In November the tariffs for separate types of housing and communal services as well as for the services in culture and recreation were increased. The prices growth for non-food goods are still remaining limited due to the restricted demand which is related to the reduced real money income of the population and continued remote format of work and studies.

More details on the inflationary trends in November is available in the release “Inflation Trends. November, 2020” on the official website of National Bank of Kazakhstan.