National Bank of Kazakhstan raises 2027 inflation forecast

The National Bank of Kazakhstan has raised its inflation forecast for 2027 from 5.5–7.5 percent to 6.5–8.5 percent.

Operativ Media reports that this was announced by Akylzhan Baimagambetov, Deputy Chairman of the National Bank.

According to him, the upward revision was driven by an increase in the minimum wage and the potential inflationary impact of a nationwide construction program. The bank expects inflation to decline to 3–4 percent in 2028.