Inflation Dynamics in Kazakstan

Publication Date:

December 1, 1995

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

In January 1992, Kazakstan initiated a reform program to move toward market-determined prices. The price liberalization process was characterized by large relative price shifts and an increase in the overall price level toward those observed in market economies. The paper shows how the piecemeal manner in which prices were liberalized resulted in strong relative price variability over a prolonged period of time, against a background of high inflation. Convergence toward international relative and absolute price levels has progressed but is not complete, with prices for energy and services in particular still below market economy level.

Series:

Working Paper No. 1995/140

Subject:

Food prices Inflation Price adjustments Price controls Price structures Prices Producer prices

English

Publication Date:

December 1, 1995

ISBN/ISSN:

9781451856088/1018-5941

Stock No:

WPIEA1401995

Pages:

35

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