Prices for socially important food products began to decline in Kazakhstan

For the first time since 2016, official statistics register a decrease in price index for social food products in Kazakhstan,El.kz reports with reference to the Government of the Republic of Kazakhstan.

The average deflation index was 99.8%.

Thus, the measures taken by the government to stabilize prices are signing an agreement with industry associations to fix egg prices and prevent dumping, which ensured stable prices for this important product; a temporary ban on sugar exports and an export customs duty on sunflower seeds.

In order to further stabilize, the National System of Traceability of Goods has been launched in pilot mode, which will become an "electronic mirror" for tracking the movement of socially important food products and increasing market transparency.

These measures have shown their effectiveness, reducing the prices of foods for the first time in eight years, a significant achievement in the face of global inflation and volatile food markets.