Kazakhstan’s annual inflation rate declined to 11.8% in September from 13.1% in August. Despite still being in double digits, it’s trending downwards and falls within the central bank’s year-end inflation target of 11-14%. The slower rate was attributed to a decrease in food inflation, a decline in non-food inflation, and the mitigating effects of the base effect on fuel price increases. However, future inflationary pressures might arise in the transport sector due to maintenance work at the Atyrau refinery.