12:01, 07 December 2016 | GMT +6
Inflation slowdown observed in Kazakhstan - Akishev
ALMATY. KAZINFORM - Chairman of the National Bank of the Republic of Kazakhstan Daniyar Akishev says Kazakhstan managed to slow down inflationary processes based on the results of 2016, Kazinform correspondent reports.
"First and foremost, we managed to slow down inflation rate and decrease inflation expectations in 2016," Akishev said at a press conference on Wednesday.
According to him, inflation rate amounted to 7,5% over 11 months of 2016.
"The annual inflation rate dropped to 8,7%. Annual inflation rate reached its peak of 17,7% in July 2016" he said.
"The main factor that affected the inflation rate in Kazakhstan in 2016 was the correction of the national currency exchange rate last year and in early 2016," Akishev noted.