BUSINESS | 15:35
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Meat prices and local transport costs edge up despite slowing annual inflation

Uzbekistan’s annual consumer price inflation slowed significantly to 5.5% in May 2026, dropping from the 8.7% registered in May 2025. According to the National Statistics Committee, the 3.2 percentage point deceleration is largely attributed to high base effects fading out from the energy sector. Monthly consumer prices in May edged up by 0.2%, compared to a 1.5% monthly increase recorded during the same period last year.

While overall food prices remained flat over the month, non-food goods rose by 0.3% and service sector inflation stood at 0.4%.

Food and consumer staples

Key dietary proteins and staples experienced upward price movements in May. Boneless beef prices increased by 3.6%, reflecting a 20.5% jump compared to May 2025. Meat with bones and lamb both rose by 2.9%, with year–on–year increases reaching 19% and 22.8% respectively. Ground meat prices climbed by 2%, while sugar grew by 1.5%. Other commodities seeing increases included pasteurized milk (+1.1%), live and chilled fish (+1.0%), flour (+0.9%), and vegetable oil (+0.6%).

The statistics report highlighted structural shifts in the meat sector, noting that in May 2026, the price of imported beef grew within a range of UZS 5,000–10,000 per kilogram, while locally sourced beef prices rose between UZS 2,000–7,000 per kilogram.

Conversely, some food items registered declines. Rice and rice fragments dropped by an average of 1.6%, a significant 13.7% decrease compared to the same month last year. Poultry prices fell between 1.5% and 1.6%, raw milk dropped by 0.8%, and egg prices decreased slightly by 0.1%.

Fruit and vegetable price changes followed clear seasonal trends. Lemons surged by 19% over the month, marking an 86.6% increase compared to May 2025. Apples rose by 2.6%, and both beets and carrots increased by 1.6%. On the cooling side, cucumber prices plunged by 39.5%, tomatoes dropped by 34.7%, eggplants fell by 23.6%, and bell peppers declined by 19.7%. Garlic, bananas, cabbage, onions, herbs, and potatoes also registered monthly price decreases ranging from 1.1% to 12.3%.

Fuel and transport services

Fuel costs trended upward in May, with average gasoline prices rising by 0.6%, representing a 12% increase against May 2025. Broken down by fuel grade, AI-92 rose by 0.6%, AI-95 by 0.8%, and high-octane AI-98 and AI-100 fuels increased by 1.6%. Methane prices edged up by 0.2%. In contrast, propane prices fell by 1.9% over the month to a maximum price ceiling of UZS 7,200 per liter, though it remains 22.1% higher than last year. Maintenance and repair services for personal vehicles grew by 1.2%, and parking fees climbed by 1.1%.

Public and regional transit costs saw localized adjustments. Tram fares in the Samarqand region jumped by 15.5%. Taxi fares across the country rose by 1%, and intercity bus fares increased by 1% in the Bukhara, Navoi, and Namangan regions, as well as in Tashkent city. City bus fares in the Samarkand region edged up by 0.5%.

The strengthening of the Uzbek soum against the euro and the Swiss franc provided relief for international travelers. Long-distance rail fares fell by 0.3%, and airfares dropped by 1.3% over the course of the month.

Regional inflation highlights

Inflation dynamics varied across the country's territories by the end of May. The highest annual inflation rate among the administrative divisions was recorded in the Kashkadarya region at 5.8%. Meanwhile, the lowest rate was documented in the Fergana region, where annual consumer price growth stood at 6.4%.

Дониёр Тухсинов
Prepared by Дониёр Тухсинов
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