Annual inflation in Uzbekistan edged down to 8.35% y/y in February from 8.58% y/y in January, according to the State Statistics Agency.
Monthly inflation in February was 0.64% m/m.
The statistics bureau also stated that food inflation in the second month of the year was 8.7% y/y. The price of rice increased by 31.3% y/y. Beef and granulated sugar prices rose by 9% y/y and 10.1% y/y, respectively.
In contrast, non-food goods and services were up 7.4% y/y and 9.1% y/y, respectively.
Utility tariffs saw moderate increases in terms of hot water (1.1% y/y) and electricity (2.2% y/y) tariffs. However, cold water and sewerage services showed inflation of 67.6% y/y .
Fuel prices also followed a sharply upward trend, with petrol prices up 23.3% y/y.
Propane and methane prices gained by 15.7% y/y and 20.5% y/y, respectively.
In a consumer sentiment survey conducted in January 2024, the proportion of Uzbeks who observed a significant rise in prices fell from 29.3% to 23.2%. This reduction in perceived price increases may reflect the general public's positive response to the government's efforts in managing inflation.
Uzbekistan's economy grew at a rate of 6.4% in the first half, according to offical statistics. The GDP growth was discussed in a meeting focused on economic sectors led by ... more
Uzbekistan and Russia have announced plans to further develop mutual trade and create joint industrial parks, according to the Russian trade mission in Uzbekistan. Russian Industry and Trade ... more
Officials from the Chamber of Commerce and Industry of Uzbekistan (CCI) and the Bukhara regional administration recently visited the Petrochem Sepehr joint venture. The venture, ... more