In March, the cost of fresh vegetables in Kazakhstan continued to rise, reflecting ongoing market fluctuations and inflationary pressure.
An analysis of weekly SSFP price trends reveals mixed dynamics, though the overall index shows moderate growth.
The most significant price increases over the week were observed for:
- White cabbage: The price index rose by 3.9%, marking the most substantial growth among SSFP. This spike is attributed to seasonal factors, changes in logistics, or other market fluctuations.
- Onions: the price index increased by 0.6%.
- Potatoes: prices stabilized, with only a 0.5% increase.
At the same time, some products saw price declines:
Carrots: the price index fell by 0.8%. Like onions, carrot prices are influenced by seasonal factors and harvest yields.
To better understand inflationary trends in Kazakhstan's food market, it is essential to analyze price changes over the past year. A comparison from February 2024 to March 2025 highlights the following key trends:
The highest price increases over the year were recorded for:
- Potatoes: prices saw the most significant increase, with a price index of 160.5.
- Onions: the price index reached 128.5, indicating substantial annual growth.
- White cabbage: ranked third in annual price growth, with a price index of 124.0.
Despite the relatively modest weekly increase in the SSFP index, the accumulated inflation of 3.1% since the start of the year and the sharp annual rise in prices for staple vegetables (potatoes, onions, cabbage) call for a serious assessment of long-term risks.
Financial expert Andrey Chebotaryov warns that if weekly inflation remains at 0.2-0.3%, food prices could rise by 16-17% annually. Considering the current price surge, the forecast could exceed 20%. Even with seasonal adjustments, this points to double-digit inflation, posing significant risks to the economy and citizens' well-being.
If the current pace of price increases continues, Kazakhstan could face significant food inflation on an annual basis, putting pressure on real incomes and the economy's overall competitiveness.
Source: www.zakon.kz