Kazakhstan: Inflation climbs in May, led by higher food prices
Consumer prices rose 0.6% over the previous month in May, slightly above April’s 0.5% month-on-month upturn. May’s print was led by higher food prices, along with a marginal rise in the costs of non-food products and services.
A detailed breakdown shows that prices for alcoholic beverages and tobacco products rose by the biggest magnitude, followed by leisure and culture, and clothing and footwear.
Meanwhile, inflation climbed to 5.3% in May from 4.9% in April, but remained within the Bank’s 4.0%–6.0% target band. Lastly, annual average inflation inched down to 5.4% in May from 5.5% in April.