Kazakhstan Inflation Rate Hits 1½-Year Low

The annual inflation rate in Kazakhstan eased to 9.8% in August 2026 from 10.2% in the previous month, marking the lowest reading since February 2025. Food inflation slowed to 9.5% from 10.1% in July, particularly for meat and poultry (12.9% vs 15.8%), sausages and meat products (14.3% vs 15.9%), and oils and fats (9.6% vs 10.6%). Price growth also slowed for non-food products (11.4% vs 11.7%), with softer price increases in clothing (10.2% vs 10.7%) and petrol (12.8% vs 15.3%). Paid services inflation edged down to 8.9% from 9.2%, despite faster price growth for housing and utilities (6.3% vs 5.7%), housing maintenance and servicing (5.6% vs 5.0%), and maintenance, repair and security of residential premises (13.1% vs 12.5%). On a monthly basis, consumer prices increased 0.6%, unchanged from July and remaining the lowest reading since March.

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.