BAKU, Azerbaijan, October 11. Kazakhstan’s
annual inflation slowed to 9.3% in September 2026, down from 9.8%
in August, according to the Bureau of National Statistics of
Kazakhstan.


Inflation amounted to 0.6% month-on-month in September,
unchanged from the previous month.


"Prices for food products increased by 8.5% year-on-year (9.5%
in August 2026), non-food products – by 11% (11.4% in August 2026),
paid services – by 8.9% (8.9% in August 2026)," the statistics
bureau said.


Food and non-alcoholic beverages made the largest contribution
to annual inflation, accounting for 3.2 percentage points. Personal
care, social protection, other goods and services, as well as
clothing and footwear each contributed 1 percentage point.


According to the Bureau, prices for some vegetables and food
products declined over the month. Onion prices fell by 20.7%,
lemons by 13.9%, carrots by 13.6%, potatoes by 13.4%, eggplants by
11.2%, cabbage by 10.1%, sweet peppers by 6.5%, apples by 5.3%,
pears by 2.4%, garlic by 1.3% and bananas by 0.7%. Prices for baby
cereals decreased by 6.1%, while granulated sugar fell by 1.3%.


In September, prices for non-food products increased by 1.1%
month-on-month, while paid services rose by 1%. Food prices
declined by 0.1%.







Among non-food products, prices fell for hand cream by 6.9%,
children's diapers by 6.6%, televisions by 5.6%, dishwashers and
microwave ovens by 1.8% each, and shower gel by 1.4%.


In annual terms, inflation in Kazakhstan stood at 9.3% in
September 2026, compared with 9.8% in August 2026.


According to Trend calculations, the pace of disinflation picked up
in September: annual inflation fell by 0.5 percentage points versus
0.4 points a month earlier (10.2% in July to 9.8% in August). With
monthly price growth unchanged at 0.6%, the slowdown came entirely
from a favorable base effect, not from weaker current price
momentum.


Food was the main driver of the slowdown. Annual food
inflation dropped by 1.0 percentage point, almost twice the August
decline of 0.6 points. Food's contribution to the headline figure
shrank by 0.4 points, from 3.6 to 3.2 points, while the
contribution of the other categories stayed at 1 point. Food
inflation has now fallen below that of paid services (8.5% vs
8.9%), whereas in August it was still 0.6 points higher. This is
largely a cyclical, seasonal effect from the harvest and falling
vegetable prices.


The underlying components are slowing much more
weakly. Non-food inflation eased by only 0.4 points, comparable to
August's 0.3 points. Paid services stalled at 8.9%, after easing by
0.3 points in August. As a result, the gap between non-food and
food inflation widened from 1.9 to 2.5 points.