Kazakhstan’s inflation rate continued to decelerate, falling to 14% YoY in July. Notably, food inflation experienced a significant drop, dwindling from its February high of 26.5% to its current rate of 13.5%. Separately, Serbia’s central bank’s quarterly report indicates that the annual inflation rate is expected to revert to the bank’s tolerance range of 1.5-4.5% earlier than initially projected by mid-2024, driven by the implications of monetary tightening measures.