FX.co ★ Kazakhstan Producer Inflation Accelerates Further

Annual producer price inflation in Kazakhstan accelerated to 16% in May 2026, up from 11.1% in April and reaching its highest level since October 2022. Prices in mining and quarrying surged (22.7% vs 10.1% in April), driven in particular by crude oil and natural gas production (32%), as well as by the production of mineral raw materials for the chemical industry and fertilizers (58.8%). Prices also rose at a faster pace in the supply of electricity, gas, steam, hot water, and air conditioning (11.4% vs 9.6%), as well as in water supply; sanitation; waste collection, treatment, and disposal; and pollution control services (7.6% vs 7.3%). In contrast, manufacturing cost inflation eased (12% vs 13.2%). On a monthly basis, the producer price index (PPI) increased by 3.2% in May, following a 4.2% rise in April.