Kazakhstanis spend 55% of their income on food – analysts

For the second year, Kazakhstan has maintained anti-leadership in the EAEU in terms of inflation for food and non-food products, Liter.kz reports with reference to Energyprom.kz.

Analysts note that in 2023, food prices in the country increased by 15.2%. At the same time, in the EAEU as a whole – by only 5.7%. The list of the fastest growing prices includes meat, dairy products, cereals, bakery and confectionery products. And for most of them, Kazakhstan does not depend on imports.

Milk and dairy products increased in price by 21.1% over the year. In Russia, “milk” became more expensive by only 2.6%, in Belarus – by 9%, in Kyrgyzstan – by 10.4%, in Armenia – by 4.3%, Energyprom gave an example.

Kazakhstan is a major grain exporter. Despite this, flour prices rose by 14.4% over the year. At this time, the EAEU saw a decrease in prices by 1.4%.

Despite the fact that statisticians note a decrease in the growth rate of food inflation, the share of Kazakh families’ expenses on food remains high. In the third quarter of last year, spending on food products accounted for 55.3% of all consumer spending by households in Kazakhstan. A year earlier, their share remained at 54.8%, analysts say.

For non-food products, Kazakhstan also shows a higher rate of price growth. Over the year, products increased in price by 14.8%, and in the EAEU as a whole – by only 5.5%.

Let us remind you that the EAEU includes five countries: Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.

Previously, we wrote about how prices for socially significant products have changed in Kazakhstan. The list includes 19 items.