Inflation acceleration conditioned by food prices rising: G.Marchenko

ALMATY. March 9. KAZINFORM /Yekaterina Ionova/ Acceleration of inflation in the last two months of 2011 was conditioned by 5.1% food prices rising. The inflation made 3.2% in January-February 2011. Chairman of the National Bank of Kazakhstan Grigori Marchenko has made it public at a special conference in Almaty today.

According to the Kazakh Statistics Agency, in February the inflation rate was at the level of 1.5%. The food prices increased by 2.0%, non-food products - by 0.2%. The paid services prices increase made 2.2%.

According to the Head of the National Bank, reducing the inflation would be unwise due to the current situation at the world markets. "The situation is difficult enough in many countries. Upon the results of the first quarter of this year we will try to return to the inflation forecast in 6-8% corridor. It may be reconsidered," G.Marchenko said.