The annual inflation rate in Kazakhstan reached 9.4% by the end of February 2025, with a monthly increase of 1.5%, according to a report by the correspondent of the business information center Kapital.kz, citing data from the Bureau of National Statistics.
For reference, the annual inflation rate at the end of January 2025 was 8.9%, with a monthly increase of 1.1% for January 2025.
Prices for paid services increased by 14.1% over the year (compared to 13.8% in January 2025), non-food products rose by 8.7% (up from 8.4% in January 2025), and food products saw an increase of 6.5% (up from 5.8% in January 2025).
Compared to February 2024, the tariffs for cold water increased by 70.7%, electricity by 21%, central heating by 18.2%, sewage by 17.3%, hot water by 14.5%, gas transported through distribution networks by 13.2%, and garbage collection by 11.1%.
Prices for comprehensive recreational services rose by 34%, telecommunications by 14.3%, hairdressing and personal care establishments by 12.3%, healthcare services by 11.8%, public catering by 10.8%, maintenance and repair services for personal vehicles by 10.5%, and services in the field of recreation and sports events by 9.8%. Train fares increased by 20%, air passenger transport by 12.5%, and city bus fares by 10.5%. Rent prices rose by 16.5%.
The price level for audiovisual equipment surged by 42.3%, jewelry and watches by 24.4%, new domestically assembled passenger cars by 18.9%, carpets and other floor coverings by 13%, clothing and footwear by 10.9%, and furniture and household items by 10.5%. Liquefied gas in cylinders increased by 20.5%, and firewood by 14.8%.
Price increases were noted for potatoes at 62.1%, onions at 27.3%, cabbage at 20.2%, mineral and drinking water at 17%, confectionery at 14.2%, alcoholic beverages and tobacco products at 13%, soft drinks at 12.6%, processed and canned fish at 12.5%, butter at 12.2%, and fruit and vegetable juices at 10.6%. Conversely, prices for buckwheat decreased by 20.4%, carrots by 6.6%, rice by 5.7%, and eggs by 5.3%.
Regionally, in February 2025, the inflation rate exceeded the national average in eight regions, with the highest rates observed in Astana (12.7%), Akmolinsk (10.7%), and West Kazakhstan (10.5%) regions.
The largest contributions to the annual inflation rate came from food products and non-alcoholic beverages (2.5 percentage points), housing services (1.9 percentage points), healthcare (1.1 percentage points), and clothing and footwear (1 percentage point).
Utility services increased by 16.3% over the year, contributing 1.9 percentage points to inflation. In February 2025, compared to February of the previous year, rental rates rose by 16.5%, contributing 0.6 percentage points, while tariffs for cold water (70.7%) and electricity (21%) contributed 0.3 percentage points each, and maintenance and repair of residential premises (6.1%) contributed 0.2 percentage points to annual inflation. Over the year, prices for meat and meat products increased by 6.2%, and fruits and vegetables by 9.3%, contributing 0.7 and 0.6 percentage points to inflation, respectively. The price rise of dairy products by 6.1% contributed 0.3 percentage points, while oils and fats (10.5%), non-alcoholic beverages (9.5%), and bakery products and cereals (2.8%) each contributed 0.2 percentage points to annual inflation. In annual terms, clothing increased by 10.6%, and footwear by 11.4%, contributing 0.7 and 0.4 percentage points, respectively, to inflation.
Analysts predict that inflation in Kazakhstan will range from 8.7% to 9.1% year-on-year by the end of February.
Inflation for the year 2024 slowed down from 9.8% in 2023 to 8.6%. The country's national bank aims to stabilize inflation around 5% in the medium term.