Igor Ossipov, Head of the Real Sector Monitoring Division of the NBK Monetary Policy Department comments on inflation trends in Kazakhstan’s regions in July 2022 

In July 2022, annual inflation in the country accelerated and made 15.0% (14.5% in June). In terms of regions, annual inflation sped up in 16 regions, decelerated in 3 regions and remained unchanged in 1 region.

The highest acceleration rate was reported in Atyrau Region (from 14.1% in June to 16.0% in July).

Growth pace of foodstuff prices in July composed 19.7% year-on-year (19.2% in June). The maximum increase in prices for goods of this group was reported in Mangistau Region (24.0%).

Growth rate of prices for non-food products grew to 14.2% year-on-year (13.2% in June). Maximum value was reported in Nur-Sultan and Ulytau Region (18.5% each), while the minimum value was reported in Almaty (12.3%).

Prices for paid services in July stayed put at 9.2% year-on-year, meanwhile prices rose significantly above the national level in Turkestan Region (11.4%), significantly lower – in Aktobe Region and Zhambyl Region (6.7% each).

Monthly inflation in the country was 1.1% in July 2022, which is higher than the average value of July inflation for the past 5 years (0.3% for 2017-2021).

Prices in July 2022 increased in all the regions above their average historical rate. The highest acceleration of the monthly inflation was reported in Atyrau Region (2.1%).

For more details, please see: https://nationalbank.kz/en/news/inflyacionnye-tendencii-v-regionah/rubrics/1768

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