Inflation in the Republic of Kazakhstan

In January 2024, the monthly consumer price index slowed down and amounted to 0.8% (as in the previous year). Food prices increased by 1.1%, paid services – by 0.7%, non-food products – by 0.5%.

Of the food products, the prices for tomatoes increased by 18.5%, cucumbers – by 14.9%, sweet peppers – by 12.1%, garlic – by 7.4%, bananas – by 6.7%, eggs – by 5%. The increase in prices for tobacco products was noted by  3%. Sunflower oil fellin price by 1.7%, sugar – by 1.4%, bulb onions – by 1.3%, carrots – by 1.1%.

In the field of paid services, prices for legal services and car insurance increased by 7.0%, railway passenger transport services – by 6.8%, preschool institutions – by 2.6%, healthcare – by 1.6%.

Price increase in January 2024 marked onmedications by 2%. Cars rose in price by 1.6%, personal goods- – by 1.3%, construction materials – by 1%.

Among the regions, the highest monthly inflation was registered in Atyrau region – 1.2% (above the national average by 0.4 percentage points), the lowest – in Ulytau and Kyzylorda region by 0.5%.

By region prices for food products increased the most in the Abay by 1.7%, non–food products in the Almaty and Atyrau regions by 1.1%, paid services – in Aktobe region by 2.1%.

 

Inflation in January 2024 was 9.5% year-on-year. Prices for food products increased by 8.2%, non-food products – by 8.6%, paid services – by 12.3%.

Compared to January 2023, grapes rose in price by 47.7%, cabbage - by 42.3%, rice - by 31.3%. Prices for paracetamol increased by 74.7%, acetylsalicylic acid - by 55.8%, activated carbon by 31.1%. Tariffs for garbage collection increased by 29.6%, water disposal - by 28.6%, central heating - by 26.7%, hot water - by 23.2%, cold water - by 21.9%, electricity by 20.7%. On the contrary, in annual terms, bulb onions fell price by 26.4%, sunflower oil - by 19.8%, granulated sugar – by 15.5%.

The consumer price index indicator characterizing the inflation rate is calculated monthly. Observations are conducted on tariffs and prices for services and goods, for a total of 508 positions. Dynamic changes in inflation can be viewed on a specially designed interactive dashboard, which covers indicators starting from 2018.

"The Bureau calculates the consumer price index indicator monthly, which characterizes the level of inflation. We are observing changes in tariffs and prices for services and goods, for a total of 508 items. Prices are registered through a selective network of trade and service enterprises of various forms of ownership in all regional centers, the capital and a certain circle of cities and district centers," explains Kuanyshbek Zhakypbekuly, Director of the Bureau's Price Statistics Department.

 

*Since January 2024, when constructing the consumer price index, the share of food products is 42.0%, non–food products - 29.8%, paid services - 28.2%.