Inflation Kazakhstan 2023
Average inflation: 14.9%
Current Inflation
Inflation is very high at 14.9%, far above the ECB target.
Peak and Trough
The highest inflation was in February at 21.4%. The lowest inflation was in December at 10.1%.
- Highest month
- February: 21.4%
- Lowest month
- December: 10.1%
- Difference
- 11.3 percentage points
- Months with data
- 12 of 12
Historical Context
Current inflation is 4.9% higher than the 5-year average of 10.0%.
- 5-year average
- 10%
- 10-year average
- 9.1%
- All-time high (2008)
- 17.3%
- All-time low (2012)
- 5.2%
Trend
Inflation shows an upward trend. Compared to 2022, inflation has risen by +0.0 percentage point.
- Change vs. previous year
- +0.0 percentage points
- Largest monthly swing
- February: +12.7 percentage points
ECB Target
Inflation is 12.9% 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 €100 this year will cost approximately €114.90 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Month overview
| Month | Inflation | Difference vs. 2022 |
|---|---|---|
| January | 20.8% | +12.2 |
| February | 21.4% | +12.7 |
| March | 18.1% | +6.0 |
| April | 16.9% | +3.6 |
| May | 16.0% | +1.9 |
| June | 14.7% | 0.0 |
| July | 14.1% | -1.0 |
| August | 13.3% | -2.8 |
| September | 12.0% | -5.8 |
| October | 11.0% | -7.8 |
| November | 10.6% | -9.0 |
| December | 10.1% | -10.3 |
| Average | 14.9% |
Data source
Data from WorldBank. Last updated: 06/01/2026.