Kazakhstan inflation slows for second month to 10.2% in July
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Kazakhstan’s annual inflation eased to 10.2% in July 2026 from 10.3% in June, marking a second consecutive month of deceleration, the Bureau of National Statistics reported. Monthly consumer prices rose 0.6%, down from 0.8% in June, driven by seasonal drops in vegetable and fruit prices. Non-food goods and paid services continued to rise, with annual increases of 11.7% and 9.2% respectively.
Headline Inflation
Kazakhstan’s annual inflation rate fell to 10.2% in July 2026 from 10.3% in June, according to the Bureau of National Statistics. Monthly consumer price growth slowed to 0.6%, compared with 0.8% a month earlier. The consumer basket weights are 41.1% food, 28.4% non-food goods, and 30.5% paid services.
Food Price Developments
Food inflation reached 10.1% year-on-year, but monthly figures showed sharp seasonal declines. Cucumber prices dropped 22.6%, tomatoes 17.7%, carrots 5.3%, bananas 4.0%, apples 2.7%, oranges 2.3%, lemons and potatoes 1.6% each. Eggs fell 1.4% and barley groats 1.3%. Year-on-year, cucumbers were 31.6% cheaper, tomatoes 26.5%, onions 10.9%, and rice 4.1%.
Non-Food and Services
Non-food goods prices rose 11.7% annually but declined for some items month-on-month. Used cars fell 3.8%, electric meat grinders 2.2%, laundry soap 1.5%, smartphones and glasses 1.3%, hair dye 0.7%. Compared to July 2025, new domestically assembled cars were 16.2% cheaper, air conditioners 10.8%, medical thermometers 7.5%, and medical bandages 6.4%. Paid services grew 9.2% year-on-year.
What's Next
The National Bank of Kazakhstan is set to review its policy rate on September 5, with analysts expecting a hold or cautious cut. It remains unclear whether easing inflation will persist through the autumn harvest amid global commodity price swings.
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Kazakhstan inflation slows for second month to 10.2% in July
