FX.co ★ Kazakhstan Inflation Rate Hits 21-Month Low

Kazakhstan’s annual inflation rate eased to 9.2% in October 2026 from 9.3% in September, reaching its lowest level since January 2025. The slowdown was mainly driven by weaker price growth in both food and non-food categories.

Food inflation fell to 7.6% in October, down from 8.5% in September, reflecting more moderate price increases for meat and poultry (8.6% vs. 10.2%) and for sausages and other meat products (11.2% vs. 13.2%). Non-food inflation also decelerated, easing to 10.4% from 11.0%, supported by slower price growth in petrol (8.6% vs. 10.1%) and personal goods (11.3% vs. 11.9%).

In contrast, inflation in paid services accelerated, rising to 10.3% in October from 8.9% in September. This partly offset the broader disinflationary trend, as the increase in service prices was largely driven by higher housing and utility costs (11.2% vs. 6.3%).

On a monthly basis, consumer prices rose by 0.5% in October, down from a 0.6% increase in September, marking the smallest month‑on‑month gain since October 2025.