Kazakh National Bank forecasts inflation at 8% in 2016

Kazakh National Bank forecasts inflation at 8% in 2016

The National Bank of Kazakhstan forecasts inflation at a level no higher than 8% in 2016, the head of the National Bank of Kazakhstan Daniyar Akishev said at the Astana Economic Forum.

"The National Bank's forecast on annual inflation for the late 2016 remains unchanged. The inflation will slow down by late this year and stand near the uppermost margin of the target range, which varies from 6 to 8%," Trend cited him as saying.

Akishev also noted that over the recent months the monthly inflation rate has stood within the normal trend. It has been 3.6% since the beginning of 2016 and 16.3% over a year from April 2015.

He also said the National Bank's tasks for 2016 are the stabilization of the inflation rate and quickly returning to the set range.

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