Azernews.Az

By Aynur Karimova

The consumer price index in Kazakhstan has reached 100.5 percent in December 2014 compared to the previous month, the Statistics Committee of the National Economy Ministry said.

The price of food products increased by 1.1 percent in December, while the price index for non-food products amounted to 100 percent, the prices and tariffs for paid services have increased by 0.3 percent.

The Statistics Committee also noted that since the beginning of the year (December 2014 compared to December 2013) the prices and tariffs of consumer goods and services increased by 7.4 percent, food products by 8 percent, non-food goods by 7.8 percent, and paid services by 6.4 percent.

Earlier, an analytical report prepared by strategic market research company Euromonitor International said the inflation rate is forecasted at the level of 7.1 percent.

Kazakh Economy and Budget Planning Minister Erbolat Dossayev said earlier that the government and the National Bank are jointly working out a complex of measures to reduce inflation rate in the country.

"Jointly with the National Bank, the Kazakh government is developing a set of measures to reduce inflation to 3-4 percent in the medium term. This work will be completed in July, 2014," the minister noted.