Kazakhstan Inflation Rate Falls to 12.6%

The annual inflation rate in Kazakhstan eased to 12.6% in October 2025, down from a three-month high of 12.9% in September. The main downward pressure came from a sharp slowdown in housing and utilities inflation, which dropped to 11.3% in October from 17.4% in September. Price growth also moderated for communication (4.4% vs. 7.2%), recreation and culture (14.6% vs. 16.9%), and clothing and footwear (10.8% vs. 10.7%). In contrast, prices rose faster for food and non-alcoholic beverages, climbing to an over two-year high of 13.6% from 12.8%. Inflation also accelerated for restaurants and hotels (15.7% vs. 14.0%), health (18.1% vs. 17.0%), and transport (12.2% vs. 11.3%). On a monthly basis, consumer prices increased 0.5%, slowing from a 1.1% rise in the prior period and marking the softest gain since September 2024.