National Bank provided survey data for March
According to the results of the March survey, people’s expectations for inflation have increased by 0.2%. Their quantitative assessment for the coming year is 6.9% (6.7% in February). The proportion of respondents who expect the current rate of price growth to continue or grow faster in the next 12 months rose to 44% (compared to 42% in February). A reporter from the Kapital.kz Business Information Center reported on the NBRK news service by the deputy governor of Denis Chernyavsky, deputy director of the Monetary Policy Department of the National Bank.
In inflation estimates, the proportion of respondents who noticed very high price increases dropped to 46% (compared to 53% in February).
“As always, the majority of respondents (88%) pointed to increases in food prices. At the same time, the proportion of respondents who pointed to increases in non-food prices increased: from 3.3% in February to 4.5% in March 2021, The price of services increased from 2.5% to 3.4%,” he said.
Estimates of current financial conditions are still in the negative region. In March, the proportion of pessimistic reactions increased from 35.5% in February to 36.2%. People have optimistic expectations about the future financial situation, which increased to 38% in March (and 37% in February). As a result of the increase in positive assessments, compared with the previous month, the country’s people’s readiness for large purchases has increased: from 13% in February to 15% in March.
Denis Chernyavsky said: “In March 2021, short-term and long-term expectations for economic development fell for the second consecutive month, while at the same time being in a positive zone.”
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