NB expects inflation at 5-6% by 2019 end

ALMATY. KAZINFORM At the end of 2018, inflation in Kazakhstan remained at 5-7%, as predicted earlier by the National Bank, Kazinform reports.

According to chief banker Daniyar Akishev, in the past three months inflation rate remained unchanged (5.3%). He says that compared to 2017 disinflation was recorded across all the groups of consumer commodities and services.

Core inflation dynamics demonstrated acceleration from 6.2% to 6.7% in 2018, he said and added that expansion of domestic demand and fiscal stimulus were the main factors of unchanging inflation.

"Thus, the population's real income growth in 11 months of 2018 made 4.4%. The expansion of domestic demand in 2019 will be caused by minimum wage increase and tax burden reduction for law-paid employees," he added.

Meanwhile, the NB expects inflation rate to be at 5-6% by the end of the year, Akishev concluded.