Uzbekistan’s annual inflation edged down 0.2 pp to 7.8% in October, according to the national statistical committee.

A year ago, inflation stood at 10.2%.  

The October reading is the lowest posted since 2017. It is also slightly below the Central Bank of Uzbekistan’s (CBU's) year-end forecast of 8%.

Monthly inflation in October remained steady at 0.6%, matching the pace seen in September. 

Over the first 10 months of 2025, cumulative inflation amounted to 5.7%, 2 pp lower than a year earlier.

Inflationary trends varied across Uzbekistan’s regions. The Andijan region recorded the highest monthly inflation at 0.9%, while six regions, namely Jizzakh, Kashkadarya, Fergana, Khorezm, Tashkent and Karakalpakstan, registered 0.5%. 

Since January, prices have risen the most in Fergana (8.6%) and the least in Jizzakh (5%). Annual inflation was also highest in Fergana at 8.6%, compared with 7.1% in Jizzakh.

Food prices in October increased 0.9% m/m and 5.9% year-to-date. Fruit and vegetable prices showed volatility, with tomatoes up 61% and cucumbers up 58.2% m/m. 

Non-food goods climbed 0.4% m/m and 5.8% y/y. 

Gasoline prices rose 1.5% m/m and 11.7% y/y, while methane increased 0.1% m/m but more than 30% y/y. Propane was up 3.3% m/m, though still 18% below last year’s level.

Pharmaceuticals rose 0.4% m/m and 5.9% y/y, while construction materials were up 0.5% m/m and 4.2% y/y.

In the services sector, prices increased 0.3% m/m and 14.4% y/y. Tariffs for waste disposal rose 4.3% m/m, heating by 2.7% m/m and hot water by 1.3% m/m.

Passenger transport prices also increased: rail fares were up 2.5% m/m (4% y/y), city bus fares 1.7% m/m (22.3% y/y) and intercity bus fares 1.1% m/m (11.1% y/y). 

Airfare prices fell 3.5% m/m but were also 17.3% y/y higher, while long-distance train tickets dipped 0.2% m/m.