Uzbekistan saw a rise in inflation, with the consumer price index (CPI) increasing by 0.72% in January 2025. According to the latest report from the Statistics Agency, this was an uptick compared to the previous year's 0.64% rise during the same period.
Annual inflation for January 2025 reached 9.89%, up 1.31 percentage points from the previous year. However, it was lower than the inflation rate in 2023, which stood at 12.19%. Despite the acceleration in prices, the overall inflationary trend has shown some moderation.
Food prices saw a sharp increase of 0.8% in January, the highest monthly growth since December 2023. Annual food inflation rose to 2.6%, up by 0.2%.
Vegetables experienced some of the most significant price hikes, with eggplants soaring by over 50%, and potatoes becoming 24% more expensive. Other items such as bell peppers, lemons, and cabbage also saw notable increases, ranging from 6% to 13%.
Conversely, dairy products saw a decrease in prices, with eggs falling by 14.3% and other dairy items dropping by 3.5%. Prices for meat, drinks, and finished products experienced more moderate increases of around 0.6% to 0.8%.
Inflation in the industrial goods sector slowed to 0.3% in January but accelerated to 7.7% over the past year. Clothing, footwear, and furniture saw price hikes of 0.3% to 0.4% for the month, and 5% to 5.4% for the year. Household appliances also rose by 0.3%, while medicine prices surged by 0.7%, marking a 25.2% increase over the year.
Gasoline prices increased by 1.5% in January, with an annual rise of 3.9%. Meanwhile, prices for propane fell by 13.2%, though methane prices saw a slight decline of 0.1%, still reflecting an annual increase of 20.9%.
The services sector experienced its highest price increase since 2021, with a 1.1% monthly growth. Annual service inflation reached 27%, driven mainly by a rise in energy tariffs. Among the various services, housing rent increased by 0.6% in January and 13.1% annually, while the cost of catering services and hotel stays also went up. Train tickets saw a modest rise of 0.9%, while airfares dropped by 1.3%.
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