Latest reading: Consumer prices were flat year on year in June, contrasting May’s 0.1% year-on-year decline and market expectations for...
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.
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 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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Switzerland: Consumer prices are unchanged in June -
Peru: Inflation remains muted in June Latest reading: Inflation came in at 1.7% in June, matching May’s result and in line with the Central Bank’s 1.0–3.0%... -
Kazakhstan: 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... -
Kenya: Inflation flatlines below midpoint of the target range in June Latest reading: Inflation was stable at May’s 3.8% in June, remaining below the midpoint of the Central Bank’s 2.5–7.5% target... -
Australia: Inflation nears target floor in May Latest reading: Inflation dropped to 2.1% in May after having stood at 2.4% for a third consecutive month in April.... -
Hong Kong: Inflation moderates in May Latest reading: Inflation fell to 1.9% in May from April’s 2.0%, due to weaker price pressures for food, transport and... -
Canada: Inflation remains on target in May Latest reading: Inflation came in at 1.7% in May, matching April’s reading and market expectations, and comfortably within the Central...