In April, annual inflation continued to increase, reaching 10.7%. In contrast, monthly inflation slowed from 1.3% to 1.2%, while remaining at a relatively high rate.
Given the absence of significant changes in domestic and external conditions, AERC has maintained its inflation forecast unchanged. Annual inflation is expected to continue its upward trend, reaching 12.1% in July.
In April, the inflationary expectations of the population one year from now decreased, while long-term expectations (five years) increased to 14.3%.
April depreciation of tenge was accompanied by growth of trade volumes by 32%. Meanwhile the share of transactions of the National Bank and quasi-government companies decreased.
Kazakhstan's reserve assets reached $50 billion. Monthly growth of 4.3% was driven by a double-digit increase in the value of gold holdings.
Read more in the Monetary Snapshot.
