Headline inflation in Uzbekistan recorded at 12-month low of 10.4% y/y in May

Headline inflation in Uzbekistan recorded at 12-month low of 10.4% y/y in May
/ bne IntelliNews
By Muzaffar Ismailov in Tashkent June 1, 2023

Headline inflation in Uzbekistan was recorded at a 12-month low of 10.38% y/y in May, according to the national statistical agency.

In May, inflation was also 0.49% m/m, twice as low as the m/m rise recorded in May 2022. Year-to-date inflation was 3.76%, the lowest value seen in five years. Last year, January-to-May inflation was 5.5%.

In all three main consumer price categories—food, non-food products and services—prices in May moved up by around 0.5% m/m. Among food products, prices for fruits (2.1%), fish (2%) and meat (1.9%) rose the most . Vegetable prices fell by an average of 5.4%, while prices for fat-and-oil products declined by 0.9%.

May’s gasoline prices dropped by an average 1%, with  propane prices down 0.7%.

Medicines became more expensive, with prices growing by 1.4% (they were up by almost 17% since May 2022).

In services, prices have gained by 2.7% YTD. In May, they were up 8.6% y/y.

Housing rents only edged up 0.2% in May, with many Russians who departed Russia for Uzbekistan amid consequences of the Ukraine conflict moving on to another country. However the surge in rental prices that they drove last autumn can be seen in housing rents annual inflation of 23.7% posted for May.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Uzbekistan’s key rate held at 14% as central bank points to fears over reacceleration of inflation

Uzbekistan's central bank on April 25 kept its benchmark interest rate on hold at 14%, pointing to risks that inflation could once more accelerate. Planned hikes of state-regulated prices for ... more

Uzbekistan can expect GDP growth of 5.2% this year and 5.4% next, says IMF

The International Monetary Fund (IMF) projects real GDP growth of 5.2% this year and 5.4% in 2025 for Uzbekistan in its newly released ... more

Tashkent Stock Exchange reports decline in 1Q24 trading volume

Tashkent Stock Exchange (TSE) has released its results for 1Q24, revealing a significant decrease in trading volume y/y. The results report, compiled by the TSE and Avesta Investment Group, ... more

Follow Us On

Most Read

  1. The models are wrong, climate change is accelerating faster than predicted
    4 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Don't mention the "D" word - Ukraine
    9 days ago
  4. The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
    7 days ago
  5. COLLINGWOOD: Ukraine’s power blackout means a dark future
    7 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    30 days ago
  2. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  3. BRICS announce a blockchain-based payment system to create a common currency
    1 month ago
  4. Saudi Arabia to scale back plans for Neom city
    19 days ago
  5. Iran vs Israel: Who is better equipped for war?
    16 days ago

Reports

Dismiss