Inflation in Kazakhstan
Consumer price inflation in Kazakhstan averaged 9.1% in the ten years to 2024, in line with the CIS Countries regional average of 7.9%. The 2024 average figure was 8.7%. For more information on inflation, visit our dedicated page.
Kazakhstan Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Kazakhstan from 2021 to 2014.
Source: Macrobond.
Kazakhstan Inflation Data
2020 | 2021 | 2022 | 2023 | 2024 | |
---|---|---|---|---|---|
Inflation (CPI, ann. var. %, aop) | 6.8 | 8.0 | 15.0 | 14.5 | 8.7 |
Inflation (CPI, ann. var. %, eop) | 7.4 | 8.5 | 20.3 | 9.7 | 8.6 |
Inflation increases to a near two-year high in June
Latest reading: Inflation rose to 11.8% in June, above May’s 11.3%, marking the highest inflation rate since August 2023, and more than doubling the Central Bank’s medium-term target of 5.0%. The increase was broad-based, with food, energy and housing prices all recording stronger price pressures. Inflation was likely pushed up by a weakening tenge vis-à -vis the Russian ruble, plus stubbornly high inflation in key trading partner Russia. The trend pointed up, with annual average inflation coming in at 9.4% in June (May: 9.1%). Finally, consumer prices rose 0.82% in June over the previous month, coming in below May's 0.92% increase. June's result marked the weakest reading since September 2024.
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 22 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 info@focus-economics.com.
Latest Global Inflation News
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