The Atyrau bridge in Kazakhstan

Kazakhstan Inflation

Kazakhstan Inflation

Inflation in Kazakhstan

Consumer price inflation in Kazakhstan averaged 8.2% in the ten years to 2022, slightly above the Eastern Europe regional average of 7.7%. The inflation rate for 2022 was 15.0%. For more inflation information, visit our dedicated page.

Kazakhstan Inflation Chart

Note: This chart displays Inflation Rate (CPI, annual variation in %) for Kazakhstan from 2021 to 2014.
Source: Agency of Statistics Kazakhstan.

Kazakhstan Inflation Data

2018 2019 2020 2021 2022
Inflation (CPI, ann. var. %, aop) 6.0 5.3 6.8 8.0 15.0
Inflation (CPI, ann. var. %, eop) 5.3 5.4 7.4 8.5 20.3

Inflation drops to the joint-lowest level since January 2022 in April

Inflation eased to 8.7% in April, following March’s 9.1%, marking an over two-year low. According to the preliminary release, the moderation was chiefly driven by softer price pressures for food and non-food products. Conversely, growth in services prices accelerated. Accordingly, the trend pointed down, with annual average inflation falling to 11.3% in April (March: 11.9%). Finally, consumer prices rose 0.56% in April over the previous month, below March's 0.69% rise. April's result marked the weakest reading since June 2023.

Our Consensus is for disinflation to continue through Q4 2025. The delayed impact of tight monetary policy, receding food price pressures, slowing domestic demand and a high base of comparison will limit price growth this year. However, the pace of disinflation will slow and inflation is expected to remain above the National Bank of Kazakhstan (NBK)’s 5.0% medium-term target until 2027.

Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Kazakhstani inflation projections for the next ten years from a panel of 20 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Kazakhstani inflation.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Kazakhstani inflation projections.

Want to get access to the full dataset of Kazakhstani inflation forecasts? Send an email to

Latest Global Inflation News

Free sample report

Interested in economic reports, analysis and data? FocusEconomics provides data, forecasts and analysis for hundreds of countries and commodities. Request your free sample report now.

Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest