Economics

Inflationary expectations of Kazakhstanis increased - National Bank

Photo © Adilbek Tauekelov / Kazpravda.kz
According to the results of the April poll, inflationary expectations of the population of Kazakhstan have increased, Kazpravda.kz reports with reference to the press service of the National Bank of Kazakhstan.

"The quantitative assessment of inflationary expectations for the year ahead amounted to 7.2%. The share of respondents expecting the current rate of price growth or their faster growth over the next 12 months increased to 47% (44% in March)," Denis Chernyavsky, deputy Director of Monetary Policy Department of the National Bank of the Republic of Kazakhstan commented.

Thus, 85% of respondents (in March - 88%) noted an increase in food prices. In April, the share of respondents who noted an increase in prices for non-food products (in March - 4.5%), in particular, for fuels and lubricants and building materials, increased to 6.9%.

"Consumer sentiment has slightly worsened due to a decrease in assessments of the current and future financial condition, as well as the prospects for economic development. The share of respondents with consumer and mortgage loans has decreased. The share of the population wishing to get a loan in the coming year has decreased to 18% (in January 2021 - 20%)", - said Chernyavsky.

At the same time, the respondents' readiness for large purchases has increased, the expert noted.

In April 2021, short-term and long-term expectations for economic development continued to deteriorate for the third month in a row, while being in the positive zone, concluded Chernyavsky. 
19:17, 13 May 2021
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