In December, Uzbekistan’s consumer price index (CPI) increased by 1.04%, according to the Statistics Agency. This marks the lowest monthly growth for December in recent years. By comparison, the CPI rose by 1.24% in December 2023 and 1.5% in December 2020.
Annual Inflation Trends
Annual inflation reached 9.8%, reflecting a 1% increase compared to the previous year. However, this figure shows a notable decline from the 12.2% inflation rate recorded in 2022.
Food Prices
In December, food prices increased by 1.8%, marking the highest monthly growth since November 2022. Annual food inflation also rose for the first time in nearly a year, reaching 2.4%. Vegetables saw the largest price increases, with cucumbers becoming 1.5 times more expensive and bell peppers showing a similar rise. Tomatoes rose by 22%, potatoes by 6.3%, and cabbage by 6%. Some items saw price decreases: beets and carrots fell by more than 4%, and bananas dropped by 13.5%. Over the year, potatoes increased by 39.9%, garlic by 19.6%, and cottonseed oil by 15.3%. Conversely, eggplants became nearly 50% cheaper, lemons fell by over 30%, and tomatoes declined by almost 30%.
Non-Food Goods
Inflation for industrial goods slowed to 0.4% in December, bringing the annual rate to 7.7%. Clothing, footwear, and furniture prices rose by 0.7% over the month and by 5.1%, 4.8%, and 5.2%, respectively, over the year. Household appliances increased by 0.5%, or 5.3% annually, while medicines saw a 0.9% rise in December and 26% over the year. Electronics experienced modest growth, with prices rising by 0.3% in December and 1.5% annually. Fuel prices showed mixed trends. Gasoline fell by 0.7% in December, with an annual increase of 5.9%. Methane prices rose by 0.2% in December and by 21% over the year.
Paid Services
Paid services recorded a 0.7% increase in December, maintaining a stable growth rate. Annual growth for these services reached 26.7%, driven primarily by earlier increases in energy tariffs. Catering services rose by 0.7% in December, with an annual growth of 11.7%. Hotel prices increased by 0.2% for the month. Housing rent increased by 1.3% in December and by 12.8% for the year. Transportation costs saw moderate growth: train ticket prices rose by 0.2% in December, with a 12.6% annual increase, and airfares increased by 0.3% in December and by 1.2% annually.
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