Inflation fell to 9% for the first time since August 2016

The Statistics Agency noted that in June 2023, a deflation of 0.3% was observed in Uzbekistan.

According to the agency, the decrease in the consumer price index is related to food products – they fell by 1.1% on average last month. Meanwhile, non-food products rose by 0.4%, and services by 0.2%.

Thus, the official inflation index for the first half of the year decreased to 3.45%. Annual inflation fell to 9.03%, which was the lowest inflation since August 2016 (8.6%).

On an annual basis, food products rose in price by 10.5%, non-food goods by 7.9%, and services by 8%.

In June, among foodstuffs, rice and rice bran increased by 2.8% (51.4% year-on-year), beef with bone – by 1.2% (13.8%), mutton – by 1.1% (13.4%), milk – by 0.4% (18.3%).

During the month, flour decreased by 2%, registering an annual deflation of 2.8%. Eggs became cheaper by 3.7%, and the annual price increase of this product was 11%. Average vegetable oil prices fell by 3%, bringing the annual price drop to 14.7%. It was noted that the price of sugar decreased by 1.8% in June, and the price of sugar increased by 13.4% year-on-year.

Among the fruits and vegetables that fell in price last month due to the seasonality factor are bell pepper (-47.3%), eggplant (-46.3%), tomato (-42.3%) and cucumber (-39.2%). However, tomatoes have increased in price by 49.6%, onions – by 34.1%, and carrots – by 20.9%. The most expensive vegetable in June was lemons, whose average price increased by 23.5%.

Although inflation is reported to have fallen to a seven-year low, the pilaf index continues to rise. According to the index maintained by the Statistics Agency, the price of a portion of pilaf increased in 8 out of 14 regions and remained unchanged in 7 in June, when it was said that the price of food products decreased by 1.1%.

In particular, during the month, the average price of pilaf in Surkhandarya region increased by 4.2% and in Tashkent city by 3.9%.

In the annual rate of 9% inflation, the average prices of pilaf increased by 34% in Sirdarya, 32% in Namangan, and 27% in Surkhandarya.

It should be noted that the price of tomatoes increased by 49.6%, onions – by 34.1%, and carrots – by 20.9%.