National Bank of Kazakhstan expects 2008 inflation to be lower than that of 2007

/REUTERS, Almaty, Maria Gordeeva, September 16, 08/ - The head of National Bank of Kazakhstan Anvar Saidenov does not exclude the fact that inflation in 2008 "meet" the projected 10 % and will be lower than 2007. "The forecast that we gave, at 10 %, could even be realized...The possibilities are there" - Saidenov said on Thursday. "A major attack was last year. The surprises are not happening... Annual inflation (in 2008) will be lower than in 2007" - he added. The head of National Bank expects inflation in Kazakhstan to start declining in coming months. "Last year, you know, over the past four months there as almost half the increase in inflation...If we compare that trend, which is now, over the past four months annual inflation should decline significantly," - he said. According to forecasts of the Government of Kazakhstan and the National bank, inflation in 2008 will not exceed 9.9 % APR. In January-August 2008, inflation accelerated to 7.5 % from 6.3 % in January -August 2007. In August 2008 inflation made 20.1 % to August 2007. In 2007, inflation made 18.8 % compared to 8.4 % in 2006. Average annual inflation in 2007 made 10.8 %. [2008-09-16]