Kazakhstan Services Sector Faces Record Price Surge After VAT Hike, PMI Shows Modest Growth

• Inflationary pressures in Kazakhstan’s services sector surged in January due to a VAT hike, with cost pressures rising at near-record rates.
• Service providers passed higher costs to customers, resulting in record increases in selling prices.
• Business confidence remains weak, only slightly above recent lows, but there are signs of stabilization as business activity and employment increased.
• The Business Activity Index rose above 50, indicating modest growth after months of contraction.
• Despite price hikes, the sector shows resilience, but risks to purchasing power and future demand remain.

Source: msn.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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