Kazakhstan's June inflation seen at 10-10.5% - analystsAnnual inflation in Kazakhstan is expected to come in at 10-10.5% in June, according to analysts polled by Interfax-Kazakhstan. Month-on-month, prices are projected to rise 0.6-0.8%.In May, annual inflation stood at 10.4%, with a monthly increase of 0.7%.REINING INFLATION BACK INPresident Kassym-Jomart Tokayev urged continued efforts to bring inflation down during a joint session of parliament on Tuesday, adding that Kazakhstan's financial system remains stable and the national currency is holding firm, "well protected from external threats."Prime Minister Olzhas Bektenov said earlier, on June 26, that the government aims to return inflation to single digits in the near future."Last September, inflation peaked at 12.9%. Thanks to measures taken by the government, the National Bank and other agencies, it has now eased to 10.4% over the first five months of this year. We plan to push it below 10% soon," Bektenov said at the time.He added that some sectors have seen real incomes rise as a result of inflationary dynamics. "Looking at the details, incomes are up in a whole range of industries. In agriculture, rural workers' real incomes rose by 9.3%. In trade, communications, water supply and energy, incomes grew by about 4%, and in transport by 5% to 10%, depending on the segment."THE BILL COMES DUENational Economy Minister Serik Zhumangarin told reporters the same day that the roots of the inflation surge trace back to the pandemic era, when government "fiscal impulses" drove real incomes up faster than GDP growth. Now, he said, the imbalance is unwinding: incomes are falling even as the economy grows, and "simply raising wages won't solve the problem.""Strange as it may sound, inflation is the engine of the economy. So we have to find a middle ground," Zhumangarin said.Figures from the Eurasian Economic Commission show real wages in Kazakhstan fell 3.3% in the first quarter of 2026, more than in any other Eurasian Economic Union country.SUMMER KEEPS FOOD PRICES IN CHECKAlpari analyst Anna Bodrova offered the most optimistic forecast, predicting June inflation of 10.0-10.3% year-on-year and 0.6-0.8% month-on-month. She said inflation remains above target and is easing only gradually, without sharp movements."The current trend reflects several factors. On one hand, a strong base effect from last year is at work and tight monetary conditions are restraining demand. On the other, the tenge's strengthening earlier this year partly reduced imported price pressure, and the pass-through from the VAT increase has proved limited," Bodrova said. (ICE ALMATY)

Fonte notizia: INTERFAX