Inflation expectations in Uzbekistan continue to decline, according to a central bank survey.
In May, the average 12-month inflation forecast was 13.7%, while the median forecast was 11%. These are the lowest inflation expectation figures recorded by Uzbekistan in recent years.
At the beginning of the year, the average forecast was 18.9% and the median 15%. At that time, around two-thirds of survey respondents expected an acceleration in price growth. Since then, the proportion has fallen to 40%.
Among factors that respondents said would potentially influence their inflation expectations, currency fluctuations were most often mentioned (47% of respondents).
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