Kazakhstan reports accelerated inflation

Annual inflation in Kazakhstan accelerated to 10.7% at the end of April (up from 10% in March), as reported by the Bureau of National Statistics.

In contrast, consumer prices slowed month-on-month, easing from 1.3% in March to 1.2% in April. Services reported the highest price increase at 15.7%, while prices for food and non-food goods rose by 8.5% and 8.9%, respectively.

The cold-water tariff rose by 89.1% over the year, jewelry and watches by 27.7%, and potatoes by 79%. Prices also surged for vacations at Kazakhstani resorts (70.1%), mobile operator services (15.8%), passenger cars (27.1%), onions (63.8%), cabbage (46.8%) and vegetable oil (20.8%).

By region, Astana reported the highest annual inflation rate at 13.8%, followed by the Karaganda (12.8%) and Akmola (11.8%) regions.

The acceleration in inflation occurred against the backdrop of the National Bank’s decision to keep the base rate unchanged at 16.5%. This key macroeconomic indicator was set in mid-March, following a 1.25 percentage point increase.