Kazakhstan Leads EAEU in Price Growth but Trails in Some Areas

Consumer prices in Kazakhstan are rising faster than in neighboring EAEU countries, although the country lags behind in certain categories, Orda.kz reports.

The First Credit Bureau, via its Data Hub Telegram channel, shared insights on which goods are experiencing the most significant price increases in Kazakhstan compared to other EAEU nations. Based on Eurasian Economic Commission data, their analysis compared price changes from December 2023 to December 2024.

Overall, non-food product prices in Kazakhstan rose by 8.3%, the highest rate in the EAEU:

• Clothing & underwear: Kazakhstan — 9.9%, EAEU average — 4.1%
• Footwear: Kazakhstan — 11.4%, EAEU — 4.8%
• Children's shoes: Kazakhstan — 13.3%, EAEU — 3.6%
• Furniture: Kazakhstan — 10.2%, EAEU — 6.9%
• Passenger cars: Kazakhstan — 6.4%, EAEU — 3.3%

Additionally, Data Hub's analysis highlighted significant price growth in certain services:

There is quite a noticeable gap in the increase of prices for railway transport services: in Kazakhstan, 24.9% from December to December, compared to just 12.1% across the EAEU, and with communication services: 16.8% here, while the EAEU average was 8.1%.

In Kazakhstan, food prices are rising more slowly than in other EAEU countries.

For example, although potatoes jumped by 37.7% in price in Kazakhstan, this pales compared to Russia, where potato prices have effectively doubled.

Original Author: Igor Ulitin