Inflation in the Republic of Kazakhstan accelerated to 8.6% year-on-year in July, 2024, compared to 8.4% in June, 2024.
Monthly inflation was 0.7%, compared to 0.4% in the previous month. Prices for paid services increased by 14.5% over the year (13.8% in June, 2024), non-food items by 7.3% (7.4% in June, 2024), and food items by 5.5% (5.4% in June, 2024).
In July, 2024, there was a significant increase in tariffs for utilities and the cost of various goods and services. Compared to the same period last year, sewerage increased by 42.7%, cold water by 36.5%, central heating by 33%, electricity by 31%, hot water by 29.6%, and garbage collection by 25.1%. Rent prices also rose, increasing by 12.4%. The cost of organizing comprehensive vacations increased by 15.4%, communication services by 14.8%, hairdressing and personal care services by 13.3%, leisure and sports services by 12.1%, funeral services by 11.7%, healthcare by 11.4%, sanatorium services by 10.5%, and public catering by 10%. Taxi fares increased by 13.2%, urban bus fares by 10.1%, rail passenger transport by 8%, and air passenger transport by 5.2%.
Prices for domestically produced new passenger cars increased by 24.4%, pharmaceutical products by 11.7%, clothing and footwear by 11.2%, furniture and household items by 10.2%, personal goods by 7.9%, and construction materials by 5.9%. Coal increased in price by 10.3%, firewood by 10.1%, and liquefied gas in cylinders by 8.8%.
Food prices also rose. Cucumbers increased in price by 23.5%, tomatoes by 18%, tobacco products by 17.2%, fresh fruits by 16.8%, mineral and drinking water by 15.7%, soft drinks by 11.9%, fruit and vegetable juices and confectionery products by 11.8%, fresh fish by 10.9%, eggs by 10.5%, rice by 10.1%, and potatoes by 10%. At the same time, there was a decrease in prices for onions (-34.8%), buckwheat (-22.1%), sunflower oil (-20.8%), and cabbage (-19%).
At the regional level, annual inflation in July, 2024 exceeded the national average in nine regions. The highest rates were recorded in Astana (10.8%), Karaganda region (10.6%), and Mangistau region (10.4%).
Overall, the data indicates a significant increase in utility tariffs and the cost of many categories of goods and services. In some segments, such as vegetables, there is a decrease in prices, which may indicate a possible smoothing of inflationary processes in the future. Regional differences in inflation rates require careful analysis and the development of effective economic measures.
