business and economy

Inflation slows to 0.4 percent in June

By SRI ⋅ July 2, 2009 ⋅  Email This Post ⋅  Print This Post ⋅ Post a comment

(SRI) - Consumer prices in Kazakhstan rose 0.4 percent in June, continuing a falling trend. In the last 12 months, consumer prices rose by 7.6 percent, Kazakhstan’s state statistical agency said.

The new inflation numbers yet again beat inflation forecasts which set the 12-month figure at 7.8 percent.

The National Bank of Kazakhstan already slashed the key refinancing rate from 9.0 percent to 8.5 percent in June as inflation slowed. Grigoriy Marchenko, the central bank’s chairman said that the bank may cut the interest rates further, should the one-year inflation rate stay below 8 percent by the end of July.

Tags: economy, inlation

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