Kazakh inflation rate close to 13%

Kazakh inflation rate: Kazakhstan is going to end the year considerably over its target inflation rate for the year, the Governor of its Central Bank  Daniyar Akishev  admitted last weekeng, citing the depreciation of the tenge as the principal cause. The bank initially set a target of between 6% and 8%, and had revised that up to 8.1% by the end of October. Less than a month later, however, the Minister of National Economy Yerbolat Dossayev announced that the new target was between 8% and 10%; but with the tenge continuing to lose value  and the country’s persistent reliance on imported goods, the actual rate reached 12.8% by the end of November, according to Akishev.
With oil and other commodity prices continuing to plunge, Kazakhstan’s dependence on hydrocarbon and metals  exports are also contributing to the country’s overall economic downturn.