The rate of inflation in Kazakhstan will be increased by 2% in 2009 because of devaluation (previous projections were 9% to 11%), said the Chairman of the National Bank of Kazakhstan Grigory Marchenko.
Price increase for consumer goods, observed in the beginning of February, does not affect inflation rate, thinks Marchenko.
“In two weeks in February the prices increased for drugs, detergents, and other imported goods and services. However, the price increase for these products in the overall consumer price index accounted for only 6%, which is not a significant figure,” said Marchenko.
Registered increase of prices for food is consistent with the seasonal indicators for February.
“Inflation rate in March will slightly increase and then it will slow down,” Marchenko predicts.
Chairman of National Bank thinks that devaluation of early February would result in lesser inflation rate than devaluation of 1999.
“In 1999 inflation rate reached 16% due to devaluation. This year expect only 2% increase,” said Marchenko.
