FX.co ★ Kazakhstan Producer Inflation Slows to 4-Month Low

Producer prices in Kazakhstan increased by 9.1% year-on-year in July 2026, a sharp deceleration from the 17.2% surge recorded in June and the weakest rise in four months. The overall slowdown was driven primarily by manufacturing, where price growth eased to 7.8% from 11.8% in the previous month. Within manufacturing, inflation cooled notably in food production (5.7% vs 6.6% in June), beverages (6.4% vs 6.9%), paper and paper products (2.2% vs 3.0%), and chemicals and chemical products (9.0% vs 11.9%).

Price pressures also moderated in mining and quarrying (10.9% vs 25.9%) and in electricity, gas, steam, hot water, and air-conditioning supply (11.8% vs 12.0%). By contrast, prices accelerated slightly in water supply, sewerage, waste collection, treatment and disposal, and remediation activities, rising 7.9% compared with 7.5% a month earlier. On a monthly basis, producer prices fell by 4.9% in July, reversing a 0.5% increase in June.