AERC keeps monitoring price dynamics in Kazakhstan. In January, annual inflation reached 8.9%, which turned out to be above our estimates. Although AERC forecasted acceleration of inflation from January 2025 amid pro-inflationary factors noted back in December 2024. In the current review, AERC updated the inflation estimate for February, and provided an inflation forecast for March-April of this year.
Many factors are turning out to be pro-inflationary. Read more in the attached document.
