Clothing, footwear prices in Kazakhstan rise by 10% in a year

tengrinews.kz

Clothing and footwear have risen in price by 10 percent in Kazakhstan over the year. This rate rose by nearly 1.5 percent in June. In the monthly dynamics, the most noticeable price increase was witnessed in North Kazakhstan, Mangystau and Kyzylorda regions, while the slightest increase in the price tags was recorded in Almaty and eastern Kazakhstan. According to independent financial analyst Andrei Chebotaryov, there are several factors affecting the increase in prices. The delayed impact of the pandemic is one of them. During the years coronavirus was raging, countries printed quite a lot of banknotes to help their citizens.

“This is a natural cause. Whereas, a military conflict that caused a failure in logistical supplies is not natural at all. What used to work for years is not anymore. Manufacturers need to look for alternative routes of goods delivery, which are normally more expensive. Plus, obviously, we are an import-dependent country, especially when it comes to clothing and footwear. We do not produce such goods, as well as electronic devices and laptops. All these things are imported in US dollars. The tenge fell, therefore, prices rose,” said Andrei Chebotaryov, an independent financial analyst.

Residents of the country should expect further price increases since inflation is now observed in many countries. However, if the global economy does not suffer further shocks in the near future, the situation may well improve in a year and a half.