Uzbekistan’s annual inflation edged lower to 8.8% in August, down from 8.9% in July and 10.5% in the same month a year earlier, according to the state’s statistical agency.

Consumer prices also picked up 0.4% m/m in August, ending a brief phase of monthly declines

Since the beginning of 2025, cumulative inflation reached 4.5%, compared with 5.5% over the same period last year.

In the food sector, prices rose by 0.6% m/m and 6.7% y/y in August. 

Meat and staple products saw moderate price increases, while key fruits and vegetables experienced declines.

Non-food goods rose by 0.3% on the month and 6.6% y/y. Fuel was the main driver, with gasoline prices up 3.1%, led by AI-80 (+4.6%) and AI-92 (+2.3%).

In the services sector, prices increased by 0.3% in August and by 16.2% y/y. The biggest rises were in museum services, which increased 10.6%, and veterinary services, up 9.9%

Housing and communal services climbed 3% on average, with new tariffs introduced for waste removal in Bukhara and apartment maintenance in Khorezm. 

Regionally, the highest monthly inflation was recorded in Bukhara at 0.7%, while cumulative inflation since January was lowest in Tashkent at 3.9%. Annual price growth was strongest in Fergana at 9.7% and Syrdarya at 9.4%

Earlier, the Eurasian Development Bank (EDB) projected inflation in Uzbekistan will ease to 8.1% by year-end, before declining to 6.8% in 2026 and 5.4% in 2027, supported by a consistent and moderate monetary policy.