FX.co ★ Kazakhstan Annual Inflation Surges to Highest in Two Years

In September 2025, Kazakhstan experienced a notable increase in its annual inflation rate, reaching 12.9%—the highest level recorded since August 2023. This represents a rise from the 12.2% documented in the prior month. The uptick in inflation was primarily influenced by an acceleration in the prices of food and non-alcoholic beverages, which climbed to 12.8% from 11.8% in August. Other significant contributors to this upward trend included clothing and footwear (10.8% compared to the previous month's 10.6%), transport (which jumped to 11.3% from 9.3%), furniture and household equipment (6.6% up from 5.8%), health (rising to 17.0% from 16.4%), recreation and culture (16.9%, up from 13.4%), alcoholic beverages and tobacco (increasing to 11.6% from 11.0%), restaurants and hotels (climbing to 14.0% from 13.2%), and various other goods and services (increasing to 12.0% from 11.4%). However, some sectors saw a deceleration in price growth, notably housing and utilities (which dropped slightly to 17.4% from 17.7%) and education (declining to 8.1% from 8.3%). On a month-to-month basis, consumer prices rose by 1.1% in September, marginally above the 1.0% increase in August, denoting the most significant monthly rise in four months.