Inflation in Uzbekistan fell to 8.8%

Inflation in Uzbekistan for 2023 amounted to 8.77%, according to a report published on December 31 by the Statistics Agency. This is the lowest official inflation rate since August 2016.

According to the agency, in December, prices in the consumer sector increased by an average of 1.2%.

It is noted that in 2023, food prices increased by 9.7%, non-food products by 7.7%, and services by 8.7%.

Among food products over the year, prices for meat increased by 9.1%, fish and seafood – by 7.7%, milk and dairy products, as well as eggs – by 11.2%, fruits and nuts – by 37.1%, sugar, confectionery and desserts – by 9%, soft drinks – by 5.9%. Fats and oils fell in price by 9.7%, and vegetables – by 1.4%.

As for certain types of products, compared to December 2022, rice and cut rice increased in price by 38.7%, raw, fresh milk – by 13.3%, eggs – by 11.7%, sugar – by 11.0%, beef – by 9.3%, lamb – by 9.3%. Wheat flour fell in price by 1.1%, and sunflower oil – by 17.8%.

The most expensive fruits and vegetables in 2023 were pomegranates (+203.3%), lemons (+128.9%), tomatoes (+40.2%), bananas (+12.7%), tangerines (+10. 9%), cucumbers (+6.7%) and cabbage (+6.7%).

Eggplants (-44.3%), bell peppers (-43.2%), onions (-40.7%), carrots (-15.5%) and potatoes (-14.7%) fell significantly in price over the year.

In 2023, educational services increased by 2.5%, prices for clothing and footwear – by 6.2%, housing, water, electricity, gas and other fuels – by 6.4%, prices in healthcare – by 9.7%, in the field of recreation, sports and culture – by 10.1%, in the transport sector – by 15.1%, restaurant and hotel services – by 19.6%; It is noted that prices for information and communication services fell by 0.2%.

In particular, cold water and sewerage services increased in price by 65%, fees for waste removal – by 12.9%, fees for electricity – by 2.2%, fees for hot water supply – by 1.1%.

Average prices for drugs increased by 10.6%, dental services by 13.5%, medical laboratory services by 6.8% and diagnostic imaging services by 11.9%.

According to the Statistics Agency, in 2023, gasoline prices increased by 19.1%, propane – by 29.4%, and methane – by 22.4%.

The cost of taxi services increased by 13.2%, rail transport – by 32.4%, air transport – by 20.7%.

Over the past 12 months, tuition fees in public kindergartens decreased by 2.8%, in private kindergartens – by 3.3%, in non-state higher educational institutions the cost of contracts increased by 1%, and the cost of tutoring services increased by 10.3 %. Hair salon services have increased in price by 17%.

The Statistics Agency monitors prices for 170 types of food products, 250 types of non-food products, 90 types of paid services to determine the inflation rate. The price sheet is published from the 10th to the 20th of each month.

The influence and share of each product in the aggregate growth rate is determined taking into account changes in prices for the product and its weight in the structure of consumer spending.

Accordingly, the foods that had the greatest impact on annual inflation of 8.8% were rice, beef, grapes, pomegranates and methane. Onions, sunflower oil, cottonseed oil, potatoes and carrots are among the products that have the greatest reducing effect on inflation.