Kazakhstan's inflation rate rose to 8.6% y/y in July, an increase from 8.4% in June, the Bureau of National Statistics reports. The monthly inflation rate also saw a rise, reaching 0.7% compared to 0.4% in the previous month.
There were notable price increases across various sectors. Paid services experienced a rise of 14.5% in July, compared to 13.8% in June. Non-food items saw a slight decrease in the rate of price growth, down to 7.3% from 7.4% in June. The cost of food items continued to increase, with prices rising by 5.5% in July, up from 5.4% in the previous month.
Significant price hikes were observed in several areas, particularly in the utilities sector, where tariffs saw a considerable rise. The cost of domestically produced new passenger cars increased by 24.4%, reflecting the highest surge among goods and services. Pharmaceutical products also became more expensive, with prices rising by 11.7%, while clothing and footwear costs grew by 11.2%. In the construction sector, materials saw a price increase of 5.9%. Energy products, including coal, firewood, and liquefied gas in cylinders, also recorded price increases of 10.3%, 10.1%, and 8.8%, respectively.
In the food sector, price changes were mixed. Cucumbers saw the most significant price increase, rising by 23.5%, followed by tomatoes, which increased by 18%. Fresh fruits and minerals and drinking water also saw substantial price hikes of 16.8% and 15.7%, respectively. Eggs, rice, and potatoes experienced increases of 10.5%, 10.1%, and 10%, respectively. On the other hand, there were notable decreases in the prices of onions, which fell by 34.8%, buckwheat by 22.1%, sunflower oil by 20.8%, and cabbage by 19%.
At the regional level, annual inflation in July exceeded the national average in nine regions. The highest inflation rates were recorded in Astana at 10.8%, followed by the Karagandy Region at 10.6% and the Mangystau Region at 10.4%. These figures indicate that inflationary pressures are affecting different regions and sectors in Kazakhstan to varying degrees.
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