Kazakhstan Inflation Eases to 3-Month Low

The annual inflation rate in Kazakhstan eased to 12.2% in January 2026 from 12.3% in the previous month, marking its lowest level since August. Price growth slowed for housing and utilities (0.8% vs 1.2% in December), healthcare (0.9% vs 1.5%), and alcoholic beverages and tobacco (0.1% vs 0.2%). At the same time, costs held steady for clothing and footwear (1%), and restaurants and hotels (0.2%). Meanwhile, inflation increased for food and non-alcoholic drinks (5.4% vs 5.2%), transport (1.1% vs 1%), household items, appliances and routine home maintenance (0.5% vs 0.4%), recreation and culture (0.5% vs 0.3%), and restaurants and hotels (0.3% vs 0.2%). On a monthly basis, consumer prices rose 1%, accelerating from 0.5% gain in the prior month.

The annual inflation rate in Kazakhstan eased for the third month to 12.3% in December 2025, the lowest since August, compared to November's 12.4%. Price-growth moderated a bit for non-food products (11.1% vs 11.2% in November) and services (12% vs 12.3%), but edged higher for food products (13.5% vs 13.4%). On a monthly basis, the CPI rose by 0.9% in December, after a 0.8% increase in the prior month.

The annual inflation rate in Kazakhstan slowed to 12.4% in November 2025 from 12.6% in the previous month. This marked the lowest reading since August, mainly driven by softer price increases for housing and utilities (1.2% vs 1.3% in October) and healthcare (1.5% vs 1.6%). Meanwhile, inflation remained unchanged for most of the sub-indices, such as food and non-alcoholic beverages (at 5.2%), transport (at 1%), miscellaneous goods and services (at 1.1%), recreation and culture (at 0.3%). On a monthly basis, consumer prices rose by 0.8% in November, accelerating from a one-year low of 0.5% gain in the preceding period.