19 Nov 2015 11:00

Kazakh ministry worsens 2015 inflation outlook to 8%-10%

ASTANA. Nov 19 (Interfax) - Kazakhstan's government has revised its inflation outlook for 2015 to 8%-10% from 6-8%, Minister of National Economy Yerbolat Dosayev said.

"The inflation target band is now raised to 8-10% from 6-8% in 2015," the minister said Thursday in the Senate, the upper chamber of the Kazakh parliament.

National Bank Chairman Daniyar Akishev said on Wednesday that inflation in 2015 would be higher than previous target band of 6%-8%.

Inflation was 9.4% by the end of October.

Sberbank CIB has revised the 2015 inflation forecast for Kazakhstan upward to 12-13% from 5.5%.

In 2014, inflation was 7.4%.