Kazakhstan Producer Inflation at 3-Month High

Kazakhstan’s annual producer inflation rose to 6.4% in February 2026 from 4% in the previous month, marking the highest level since November 2025. Prices rose in manufacturing (17.8% vs 14.5% in January), while prices rebounded in water supply, sanitation, waste collection, treatment, disposal and pollution control activities (5.3% vs -8.1%). At the same time, deflation in mining and quarrying eased (-6.1% vs -8.3%). Meanwhile, costs slowed in electricity, gas, steam, hot water and air conditioning (13.6% vs 17.7%). On a monthly basis, producer prices picked up to 2.7% in February, following a 0.5% increase in January.

Kazakhstan’s annual producer inflation edged up to 4% in January 2026, from 3.9% in December, which had marked the lowest reading in 13 months. Price pressures intensified in manufacturing, where inflation accelerated to 14.5% from 13.5%. By contrast, inflation eased in utilities, with price growth for the supply of electricity, gas, steam, hot water and air conditioning slowing to 17.7% from 19.2%. Inflation also decelerated in water supply, sanitation, waste collection, treatment, disposal and pollution control activities, falling to 8.1% from 10.3%. Meanwhile, deflation in mining and quarrying deepened slightly, to -8.3% from -7.4%. On a month-on-month basis, producer prices rebounded to a 0.5% increase in January, following a 1.1% decline in the previous month.

The annual producer inflation in Kazakhstan eased to 3.9% in December 2025 from 7.1% in the previous month. This was the lowest producer inflation rate since November 2024, amid slower price increases for manufacturing (13.5% vs 14% in November) and electricity, gas, steam, hot water and air conditioning (19.2% vs 19.3%), as well as a sharper decline in mining and quarrying costs (-7.4% vs -1.7%). Meanwhile, inflation edged up for water supply; sanitation; waste collection, treatment and disposal; pollution control activities (10.3% vs 10.2%). On a monthly basis, producer prices fell by 1.1% in December, following a 0.3% drop in November.