Latest reading: Inflation came in at 2.3% in June, which was up from May’s 2.2%. The reading was driven by...
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
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 5.3 | 6.8 | 8.0 | 15.0 | 14.5 |
| Inflation (CPI, ann. var. %, eop) | 5.4 | 7.4 | 8.5 | 20.3 | 9.7 |
Inflation climbs to a nearly two-year high in June
Latest reading: Inflation climbed to 11.8% in June from May’s 11.3%, marking the joint-highest rate since August 2023. Inflation remained well above the Central Bank’s medium-term target of 5.0%, likely fanned by a weakening tenge vs the Russian ruble plus stubbornly high price pressures in key trading partner Russia. According to the preliminary release, the acceleration was broad-based, with services and goods costs gaining traction. As a result, the trend pointed up, with annual average inflation rising to 9.4% in June from 9.1% in May, the joint-highest reading in nearly a year. Finally, consumer prices rose 0.82% over the previous month in June, below May’s 0.92% increase.
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
-
Kuwait: Inflation increases in June -
Malaysia: Inflation drops to lowest level since February 2021 in June Latest reading: Inflation dipped to 1.1% in June, down from May’s 1.2% and representing the lowest inflation rate in over... -
Japan: Inflation drops to lowest level since November 2024 in June Latest reading: Inflation came in at 3.3% in June, down from May’s 3.5%. June’s result represented the weakest inflation rate... -
New Zealand: Inflation ticks up in Q2 Latest reading: Inflation rose to 2.7% in Q2 2025 from 2.5% in Q1, slightly below market expectations and within the... -
Hong Kong: Inflation declines to lowest level since March in June Latest reading: Inflation came in at 1.5% in June, which was down from May’s 1.9%. June’s figure represented the weakest... -
Estonia: Harmonized inflation comes in at highest level since July 2023 in June Latest reading: Harmonized inflation spiked to 5.3% in June, which was up from May’s 4.6% and marked an almost two-year... -
Latvia: Harmonized inflation increases in June Latest reading: Harmonized inflation came in at 3.9% in June, which was up from May’s 3.7%. The uptick stemmed from...