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Inflation has been accelerating for the second month in a row

In February, the consumer inflation rates have continued to accelerate for the second month in a row, both in monthly (+0.8%) and in annual terms (+8.7%), however, they are still below the last fall peak (+8.9% y/y), Halyk Finance reports.
Inflation has been accelerating for the second month in a row

Food products are the main driver of price growth. The growth boost of prices occurs despite the government measures to regulate the prices of all components included in the consumer basket.

Food prices grew by 10% (from 9.9% in January last year) due to rising prices for bakery products, cereals and vegetables. Non-food inflation increased to 8.6% (8.5%). Prices for household appliances, furniture and household goods remain high. Under the conditions of temporary regulation of gasoline and diesel fuel prices, disinflation is observed in the fuel and lubricants market. However, the growth in prices for fuel and lubricants in annual terms is still high (22.1%).

Commercial services in February 2022 increased by 7.1% (6.8%) compared to February 2021, which was associated with raise in prices for certain market services. The annual growth in the cost of housing rental was 20.7%. However, against the backdrop of a moratorium on price increases, there is a slowdown in gas prices to 5.4% (December 2021 - 12.9%).

Source: https://halykfinance.kz/research/inflyaciya-v-fevrale-2022-goda.html?lang=ru

Photos are from open sources.

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