Inflation Kazakhstan 2021
Average inflation: 8.0%
Inflation in 2021
Inflation is very high at 8.0%, far above the ECB target.
Peak and Trough
The highest inflation was in October at 9.1%. The lowest inflation was in March at 7.0%.
- Highest month
- October: 9.1%
- Lowest month
- March: 7.0%
- Difference
- 2.1 percentage points
- Months with data
- 12 of 12
Historical Context
Inflation is 1.3 percentage points higher than the 5-year average of 6.7%.
- 5-year average
- 6.7%
- 10-year average
- 7.3%
- All-time high (2008)
- 17.3%
- All-time low (2012)
- 5.2%
Trend
Over the period 2019-2021, inflation shows an upward trend. Compared to 2020, inflation has risen by 1.3 percentage points.
- Change vs. previous year
- +1.3 percentage points
- Largest monthly swing
- October: +2.2 percentage points
ECB Target
Inflation is 6.0 percentage points above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for KZT 100 this year will cost approximately KZT 108 next year at this inflation rate.
Multi-year trend
Monthly figures 2021
Month overview
| Month | Inflation | Difference vs. 2020 |
|---|---|---|
| January | 7.2% | +1.6 |
| February | 7.3% | +1.3 |
| March | 7.0% | +0.6 |
| April | 7.0% | +0.2 |
| May | 7.2% | +0.5 |
| June | 8.0% | +1.1 |
| July | 8.4% | +1.4 |
| August | 8.8% | +1.9 |
| September | 8.9% | +2.0 |
| October | 9.1% | +2.2 |
| November | 8.8% | +1.7 |
| December | 8.5% | +1.2 |
| Average | 8.0% |
Data source
Data from WorldBank. Last updated: 06/01/2026.