According to the latest survey by the Central Bank, household inflation expectations stood at 9.8%, down 0.3 percentage points from July. Business expectations fell by 0.2 percentage points over the month to 9.6%.
Respondents identified rising utility bills as the main factor contributing to inflationary pressures, cited by 53% of those surveyed. Higher fuel and energy prices were named by 52%, while rising transport costs were cited by 32%.
Among households, the highest inflation expectations were recorded among people working in the IT sector, at 11.4%. Agricultural workers and students reported the lowest expectations, at 8.7%.
Among businesses, the highest expectations were reported in the transport and education sectors, at 10.9%, while craft businesses had the lowest expectations, at 7%.
Regional differences were also recorded. Household inflation expectations were highest in Fergana region at 11.7%, followed by Tashkent city at 11.4% and Surkhandarya region at 10.9%. The lowest levels were reported in Jizzakh region at 8.1% and Khorezm region at 8.4%.
Income levels also affected expectations. People earning UZS 30 million or more per month had the highest inflation expectations, averaging 15.8%. The lowest expectations were reported by those earning up to UZS 2 million, at 7.9%, followed by respondents with monthly incomes of UZS 2–4 million, at 9%.
