Kazakhstan Inflation Rate Hits Over 1-Year Low

The annual inflation rate in Kazakhstan eased to 10.2% in July 2026 from 10.3% in June, marking the lowest reading since March 2025. Food inflation slowed to 10.1% from 10.4%, mainly reflecting deflation in fruits, nuts, and berries (-0.8% vs 1.5%) and slower price growth for meat and poultry (15.8% vs 17.6%) and eggs (14.2% vs 15.3%). Meanwhile, inflation for non-food products held steady at 11.7%, with detergent prices unchanged at 11.1%, while inflation for paid services edged up to 9.2% from 9.0%, driven by faster price growth in housing and utilities (5.7% vs 5.1%), rental property (14.6% vs 13.9%), and the maintenance, repair, and security of residential premises (12.5% vs 11.5%). On a monthly basis, consumer prices eased slightly to 0.6% in July from a 0.8% increase in June and marking the slowest monthly inflation in four months.

The annual inflation rate in Kazakhstan edged down to 10.3% in June 2026 from 10.4% in May, marking the lowest level since March 2025. Food inflation eased further to 10.4%, the lowest since May 2025, from 10.7% in the previous month, mainly due to slower price increases for meat and poultry (17.6% vs 18.0% in May), sausages and meat products (16.3% vs 16.9%), and oils and fats (10.7% vs 11.6%). Meanwhile, non-food inflation remained unchanged at 11.7%, as faster price growth for clothing (10.6% vs 10.2%) and footwear (11.4% vs 11.1%) was offset by a softer increase in petrol prices (15.6% vs 16.0%). At the same time, inflation for paid services picked up to 9.0% from 8.7%, driven by higher rental costs (13.9% vs 13.3%), although price growth for housing and utilities eased (5.1% vs 5.6%). On a monthly basis, consumer prices rose 0.8% in June, following a 0.7% increase in May.

The annual inflation rate in Kazakhstan eased to 10.4% in May 2026, the lowest level since March 2025, down from 10.6% in April. Price growth slowed for food products (10.7% vs 11.3% in April), driven by softer increases in cereals (6.4% vs 7.2%), bread and bakery products (8.2% vs 9.0%), and meat and poultry (18.0% vs 18.4%). Meanwhile, non-food products inflation stood at 11.7%, unchanged from April. Within non-food products, prices rose at a softer pace for paid services (8.7% vs 8.9%) and gasoline (16.0% vs 16.1%), while inflation picked up for housing maintenance and services (6.2% vs 5.6%). On a monthly basis, consumer prices rose 0.7%, easing slightly from a 0.8% increase in April.