Prices Are Rising, but Kazakhstan Holds Steady: How the Country Manages to Tame Inflation and Keep Food Affordable, DKnews.kz reports.
Amid a global inflation wave and growing prices across the Eurasian Economic Union (EAEU), Kazakhstan continues to demonstrate resilience — both in curbing inflation and maintaining affordability of essential food items. This is confirmed by data from January to May 2025, published by the Eurasian Economic Commission and supplemented by comparative food price analysis in US dollars.
Inflation Across the EAEU: Setting the Scene
As of May 2025, the average inflation rate across EAEU member states stood at 9.7%, noticeably higher than in May 2024 (7.9%). The main inflation drivers were food and paid services. Russia and Kyrgyzstan recorded particularly sharp increases. Still, Kazakhstan has managed to keep its inflationary pressures lower than most of its regional peers.
In terms of food prices from January to May 2025 compared to the same period in 2024, Kazakhstan’s food price index was 106.7%, higher than average, but here’s the comparison:
- Belarus – 105.5%
- Kyrgyzstan – 104.6%
- Russia – 104.5%
- Armenia – 105.4%
- EAEU Average – 104.8%
Kazakhstan also reported a moderate rise in non-food items (103.6%) and paid services (107.8%), indicating relative price stability.
Consumer Price Index (Jan–May 2025 vs. Jan–May 2024):
| Country | Food Products | Non-Food Goods | Paid Services |
|---|---|---|---|
| Kazakhstan | 106.7% | 103.6% | 107.8% |
| Russia | 104.5% | 100.6% | 105.9% |
| Armenia | 105.4% | 99.7% | 101.2% |
| Belarus | 105.5% | 102.4% | 105.4% |
| Kyrgyzstan | 104.6% | 101.9% | 101.0% |
| EAEU Average | 104.8% | 101.1% | 105.8% |
Price Breakdown: Where Kazakhstan Stands Out
Looking at specific items gives a clearer picture of Kazakhstan’s price positioning. Based on food prices converted to USD, the country continues to offer some of the most affordable essentials in the EAEU.
| Product | Kazakhstan | Belarus | Russia | Armenia | Kyrgyzstan |
|---|---|---|---|---|---|
| Beef (1 kg) | $5.90 | $4.23 | $7.63 | $9.40 | $7.55 |
| Chicken (1 kg) | $2.09 | $2.09 | $2.59 | $4.09 | $4.15 |
| Sunflower oil (1 L) | $1.53 | $1.97 | $1.81 | $1.99 | $1.89 |
| Cheese (1 kg) | $10.65 | $8.34 | $11.43 | $9.97 | $8.92 |
Key insights:
- Kazakhstan offers the cheapest chicken and sunflower oil among EAEU countries.
- Beef is more affordable in Kazakhstan than in Armenia, Russia, and Kyrgyzstan, and only slightly pricier than in Belarus.
- Cheese, on the other hand, is more expensive — second only to Russia.
Slowing Inflation: Why It Matters
Another positive trend is the decline in monthly inflation in Kazakhstan — down from 1.2% in April to 0.9% in May 2025. This suggests that government policies aimed at easing inflation are bearing fruit and the consumer market is stabilizing.
This trend offers key benefits for businesses and the broader economy:
- Price predictability makes financial planning and investment easier.
- A competitive domestic market improves resistance to global economic shocks.
- Sustained purchasing power supports consumer demand across sectors.
Support From the EDB
The Eurasian Development Bank (EDB) has previously highlighted Kazakhstan’s stable economic performance, noting growth in industrial production and infrastructure development. These factors help reduce domestic price pressure and contribute to long-term macroeconomic stability.
Conclusion
Despite inflationary headwinds, Kazakhstan remains on a steady course. With a measured rise in consumer prices, especially in food, and sound economic management, the country remains one of the EAEU’s most affordable and stable players. This sends a strong signal to both consumers and businesses that Kazakhstan offers a predictable, resilient environment for economic activity.
