Electricity and gas tariff hikes to raise inflation by 2 percentage points – Central Bank

Samigjon Inogomov, the Director of the Central Bank's Monetary Policy Department, made this announcement during a media dialogue on February 12. 

He also addressed the planned restriction on the sale of AI-80 gasoline starting in 2026, noting that similar initiatives had been postponed multiple times in the past. Inogomov emphasized that the regulator distinguishes between inflationary factors that are government-regulated and covered by legal acts, and those considered "uncertainties and risks."

"We have calculated the impact of the April tariff increases on electricity, natural gas, and methane. According to preliminary estimates, this will result in a 2 percentage point increase in inflation. This is already factored into our projections, which forecast a year-end inflation rate of 7-8%," Inogomov explained.

He further highlighted that while inflation is expected to accelerate by 2 percentage points in April, it will decline in May as the effects of last year’s tariff hikes on electricity and gas will no longer be factored into the annual inflation calculation.

In its recent monetary policy report, the Central Bank also warned that the increase in gas prices for CNG stations could raise production costs due to higher transportation expenses. Starting April 1, 2025, the natural gas tariff for all consumers, including thermal power plants, will rise to 1,800 UZS per cubic meter. The gas price for CNG stations will jump by 38.8%, reaching 2,500 UZS.