Kazakhstan’s producer inflation rose to 16% in May, reaching the highest level since October 2022

(1) Kazakhstan's annual producer inflation accelerated to 16% in May 2026, reaching its highest level since October 2022 and exceeding April's figure of 11.1%. (2) Prices in the mining industry surged again (10.1% in April, 22.7% in May), with crude oil and natural gas production prices rising by 32%, and chemical and fertilizer industry mineral raw material production prices increasing by 58.8%. (3) The price increases for electricity, gas, steam, hot water, and air conditioning supply accelerated (9.6% in April, 11.4% in May), while the price increases for water supply, sewage treatment, waste collection and disposal, and pollution control activities also picked up (7.3% in April, 7.6% in May). (4) On the other hand, the rate of manufacturing cost growth slowed again (13.2% in April, 12% in May). On a month-on-month basis, the producer price index rose by 3.2% in May, compared to a 4.2% increase in the previous month.