Perceived inflation in Uzbekistan drops below 13% for the first time since spring 2024

Perceived inflation in Uzbekistan has fallen to its lowest level since last summer, according to data from the Central Bank.

Based on the September survey results, the average perceived price increase over the past 12 months amounted to 12.4%, down by 0.6 percentage points from August. The median indicator decreased slightly by 0.1 percentage points, reaching 10.7%.

The highest inflation perceptions were again recorded in Tashkent (13.9%), followed by Kashkadarya (13.6%) and Tashkent region (13.4%). The lowest figures were observed in Khorezm (10.8%), Karakalpakstan (10.9%), and Surkhandarya (11%).

Pensioners felt the impact of price increases more acutely than others, reporting an average of 14.3%. Higher-than-average inflation perceptions were also noted among respondents working in the transport sector (13.7%) and education (13.5%). In contrast, perceived inflation was weaker in the agriculture sector (10.6%), household services, and among students (11.4%).

As in previous months, citizens with higher incomes tended to report higher inflation. Those earning UZS 30 million or more per month perceived price growth at 16.9%, while respondents with incomes between UZS 10–15 million reported 15.4%.

Conversely, citizens with incomes below UZS 2 million estimated the rate at 11.1%, while those earning between UZS 2–7 million had perceptions closest to the national average.

Among goods and services where price growth was felt most strongly, meat and dairy products continued to top the list with 52% (down from 57% in August). Petrol ranked second with 26%, while electricity and gas tariffs moved to third place with 23%.

Respondents also frequently mentioned price increases for medicines, fruits and vegetables (both 21%), vegetable oil (19%), clothing and footwear, eggs, and transport (17%). The least frequently cited categories were bread (8%), rice, sugar and confectionery products, and household services (9%).