Annual inflation in Uzbekistan drops below 9% for first time in years

In July, the consumer price index decreased by 0.16%. Seasonal deflation has been going on for the second month, Spot writes with reference to the Statistics Agency.

Since the beginning of the year, inflation amounted to 3.29%, the lowest figure in the last five years. On average, prices grew by 0.47% monthly.

Annual inflation as of August 1 fell to 8.94%. For the first time in recent years, the rate of price growth fell below the 9% mark.

Foodstuffs have continued to fall in price – this time by 1% per month. The increase in prices since the beginning of the year (2.7%) and for twelve months (10%) has become minimal in recent years.

Among foodstuffs, the sharpest decline in prices was noted for vegetables – by 7.4% per month. So, after the price jump at the beginning of the year, tomatoes have fallen in price by almost a third, but they are still 61% more expensive than last July.

Onions now cost 20% less than a month ago and have become about a quarter cheaper in a year. Prices for potatoes fell by 14.5%, for eggplant - by 37.6%. However, prices for cucumbers rose by 8.1% and for carrots – by almost 6%.

Oil and fat products as well as sweets fell in price by 1.5%, dairy products and eggs – by 1%. Fish (0.2%), meat products (0.4%) and rice (1.7%) went up a little.

Manufactured goods became 0.3% more expensive in July. Growth in prices for clothing and footwear slowed to 0.1%, from last July, amounting to 6.7% and 6% respectively. For furniture, the monthly increase was 0.3%, and the annual growth was 6.6%.

The increase in the price of household appliances accelerated slightly – by 0.6% per month and 7.6% per year. Electronics prices have been relatively stable over the past month and have risen 2.5% since last July. Medicines became more expensive by 0.2%, while the annual increase remains about 16%.

Gasoline rose in price by 2% in a month. However, propane prices rose by only 0.8%, while the cost of methane remained virtually unchanged.

Prices in the service sector over the past month rose the most – by 0.5%. The increase against last July was the highest in the past three years (8.2%). Public catering went up in price only by 0.6% (26.4% per year), and hotel services – by 0.3% (21.3%).

At the same time, prices for transport services have risen significantly – by an average of 1%. The cost of rented housing rose only 0.3%, but the annual increase remains about 24%.