WASHINGTON: Kazakhstan’s National Bank forecasts inflation at a level no higher than 8 percent in 2016, said the bank’s chairman Daniyar Akishev. He made the remarks May 26 during the Astana Economic Forum 2016, according to the National Bank’s press service.
Akishev said the National Bank’s forecast on annual inflation for the late 2016 remains unchanged. He added that the inflation will slow down by late this year and stand near the uppermost margin of the target range, which varies from 6 to 8 percent. Akishev also noted that over the recent months the monthly inflation rate has stood within the normal trend.
The monthly inflation rate has been 3.6 percent since the beginning of 2016 and 16.3 percent over a year from April 2015, he added. Akishev also said the National Bank’s tasks for 2016 are the stabilization of the inflation rate and quickly returning to the set range.
