According to the results of October, the annual inflation rate in the Republic of Uzbekistan decreased to 7.8%. This figure is the lowest recorded since 2017.
According to the National Statistics Committee, this result is below the Central Bank's annual forecast of 8%. In October, consumer prices increased by 0.6%, which is equal to the growth rate in September.
This figure is slightly slower than the 0.8% monthly growth in October 2024. In the first ten months of the current year, the overall increase in consumer prices amounted to 5.7%, which is 2 percentage points lower compared to the same period last year.
The main factor in monthly inflation was a 0.9% increase in food product prices. On an annual basis, food inflation was 5.9%.
Excluding food prices, core inflation in October was recorded at 0.5%, while the annual figure was 8.6%. The service sector and industrial goods prices grew relatively steadily.
The price of industrial goods increased by 0.4% during the month, and by 5.8% since the beginning of the year. The price of services rose by 0.3% in October; however, on an annual basis, their price has increased at the highest rate—by 14.4%.
Regional analysis identified significant differences in inflation processes. The highest monthly price increase was recorded in Andijan region, at 0.9%.
At the same time, in Jizzakh, Kashkadarya, Fergana, Khorezm regions, the city of Tashkent, and the Republic of Karakalpakstan, this indicator did not exceed 0.5%. There are also differences between regions in annual figures.
The highest annual price increase was recorded in Fergana region, at 8.6%. The most stable prices were observed in Jizzakh region, where annual inflation was 7.1%.
This was the lowest figure in the country. Since the beginning of the year, the highest price increase was also in Fergana region (8.6%), while Jizzakh region recorded the lowest level (5%).
In Uzbekistan, the calculation of the consumer price index takes into account changes in the prices of more than 400 goods and services. Food products make up the largest share in the consumer basket, which significantly influences the overall inflation rate in the country.
