Uzbekistan’s inflation rises to 0.54% in February, annual rate surpasses 10%

Compared to the previous year, annual inflation increased by 1.78 percentage points but remained lower than the 12.23% recorded in 2023. For comparison, in February 2024, monthly inflation was 0.32%.

Food prices in February rose by 0.6%, and since the beginning of the year, they have increased by 1.4%. Annual food inflation slightly accelerated to 2.9%, the lowest level in the past five years.

Vegetable prices surged by 5.4% over the past month, while meat products became 2.1% more expensive. Meanwhile, the prices of wheat flour (-5%), rice (-3.9%), and dairy products (-2.4%) dropped significantly, especially eggs (-12%). There was also a slight increase in the prices of fish and seafood (+0.7%), oils and fats, ready-made foods (+0.4%), and non-alcoholic beverages (+0.3%).

Tomato prices soared by more than 30%, while cabbage and cucumbers saw price hikes of over 17%. Prices for bell peppers (+9.2%), lemons (+4.1%), and eggplants (+4%) also increased. However, potatoes became almost 14% cheaper, and bananas dropped in price by 4%.

On an annual basis, the highest price increases were recorded for potatoes (+46.8%), cabbage (+37.5%), carrots (+29.4%), sunflower oil (+19.4%), lamb (+18.5%), and beef (+14.8%). Compared to February last year, eggplant prices nearly halved, while bell peppers and eggs became more than 30% cheaper. The prices of lemons and tomatoes fell by a quarter, cucumbers by 18.2%, and apples by 15.2%.

Inflation in the non-food sector remained at 0.3% in February, with an annual rate of 7.7%. Clothing, footwear, and furniture prices rose by 0.3%, 0.2%, and 0.1% over the month, respectively (5.3%, 4.8%, and 4.4% annually). Household appliances increased in price by 0.3% over the month (5% annually), while medicine prices rose by 0.8% (25.9% annually). Prices for electronics, including mobile phones, remained unchanged in February (up 2% over the year).

Propane prices rose by 4.3% in February, with an annual increase of 11.3%. Gasoline prices grew by 0.2% over the month and 2.9% over the year. The state-regulated price of methane remained unchanged (up 20.9% over the year).

The monthly growth rate of paid services reached its highest level since 2021 at 0.8%. On an annual basis, service price growth accelerated to 27.1% in February, remaining significantly higher than last year's figures — mainly due to spring energy tariff increases.

Restaurant and café prices increased by 0.6% over the month, while hotel prices rose by 0.1%. Over the year, prices in the hospitality sector increased by 12% and 10.3%, respectively. Rental housing became 0.5% more expensive in January and saw a 13.5% increase over the year. Train ticket prices rose by 4.5% (18.6% annually), and public transportation fares increased by 0.9% (12.1% annually). Meanwhile, airline ticket prices surged by 22.4% over the month, with an annual increase of 23.2%.