National Bank forecasts inflation slowdown in mid-term outlook

ASTANA. KAZINFORM The National Bank of Kazakhstan forecasts inflation stabilization within the target corridor in 2017 and its further reduction in a mid-term outlook, "which will become a basic scenario of economic development with oil prices at $50 per barrel."

According to the Inflation Review for Q4 2016 published on the NB's website, favorable foreign inflation situation in main trade partners Kazakhstan - primarily due to significant easing of inflation processes in Russia and stable inflation in China - will lead to inflation slowdown in our country.

The expected stability of prices for grains will positively affect food inflation, the review reads.

Annual inflation in Kazakhstan in 2017, according to the National Bank, will be at 6-8% and in 2018 it will gradually enter the corridor of 5-7%.