Consumer prices in Kazakhstan rose by 8.5 percent year-on-year in January after rising 8.4 percent in December, the State Statistics Committee said.

Monthly inflation in January was 0.7 percent up from 0.6 percent in December.

The central bank said in January that it expected annual inflation to slow down to 6-6.5 percent by the end of 2022, but did not rule it could reach the target range of 4-6 percent.