Kazakh National Bank expects inflation at 6-8% in 2012

The Kazakh National Bank expects inflation at 6-8% in 2012, CA-News reports.

The inflation rate will be set by industrial growth, sustainable increase of population’s income, reduction of unemployment, gradual restoration of credit activity in banks.

The National Bank will stress on prevention of fluctuations of national currency and will encourage a flexible currency rate of tenge.

Inflation in Q1 2012 is expected at 2.0-2.2% (inflation in Q1 2011 was 3.7%). Inflation rate by March 2012 should reach about 5.6-5.8%.

Inflation in Q2 2012 is expected at 1.4-1.6% (inflation in Q2 2011 was 1.3%). Inflation rate by late June 2012 should reach about 5.9-6.1%.

Prices for eggs, dairy products, vegetables, meat and education services are expected to drop in April-June 2012.