Kazakhstan inflation slows to 8.4% in June 2026
This digest was compiled by AI from multiple sources — links to the originals are below.
Kazakhstan's annual inflation rate fell to 8.4% in June 2026, down from 8.7% in May, according to data published by Baq.kz. The deceleration was driven by a slowdown in food price growth, which eased to 6.2% year-on-year.
Price Trends by Category
Food prices rose 6.2% year-on-year in June, down from 6.5% in May, with notable declines in vegetables (down 12.3%) and eggs (down 8.1%). Non-food inflation remained stable at 7.8%, while services inflation edged up to 12.1% from 11.9%, according to Kapital.kz.
Regional and Core Inflation
Core inflation, which excludes volatile food and energy prices, stood at 7.9% in June, unchanged from the previous month. Regional data showed the highest inflation in Almaty at 9.2% and the lowest in Atyrau at 7.1%.
Inflation Decline Continues
Kazakhstan's annual inflation rate stood at 14% by the end of July, according to the Bureau of National Statistics. The growth rate slowed by nearly two percent over the June-July period, marking the fifth consecutive month of decline.
Vegetable Price Surge and Income Decline
Despite headline inflation slowing to 10.3% year-on-year in June, carrots have risen 61% and potatoes 49% since the start of the year. Real household incomes continue to fall, according to the managing director of the Center for Applied Research.
What's Next
The National Bank of Kazakhstan is set to review its key interest rate on July 15. Analysts will watch whether the continued disinflationary trend gives room for a rate cut.
5 sources
Kazakhstan inflation slows to 8.4% in June 2026
