National Bank of Kazakhstan does not expect sharp rise in inflation rate in the near months, Deputy Chairman of the National Bank Bisengali Tadzhiyakov said.

"We do not expect sharp rise in inflation rate because consumer demand remains stable," Tadzhiyakov said at the planetary sitting of the Senate.

"We will be able to control inflation rate in 2009 considering the Government is taking all necessary measures," he noted.

"We understand that one consequence of KZT devaluation is expectation of rise in inflation rate," Tadzhiyakov said.

He reminded that inflation rate for January-March reached 2%. Annual inflation rate reached 8.9% in March compared to 9.5% in December.

Products monitoring results show that situation at consumer market is stable, he added.