The Statistics Agency of Uzbekistan reported a seasonal deflation of 0.28% in July, marking the most significant monthly price decline since 2021. This deflation was influenced by decreases in food prices and slight reductions in petrol costs.
From the start of the year, inflation has reached 4.9%. This rate is the highest observed since 2022 over the past five years. Over the past 12 months, the overall price increase has been 10.5%, higher than the annual inflation recorded at the end of July 2023 but lower than in the preceding three years.
Food prices
In July, food prices fell by 1.5%, contributing to a 3.3% decrease over the first seven months of the year. On an annual basis, food prices have only risen by 2.9%, the lowest in recent years. Fruit prices saw an 11.2% reduction, while vegetable prices dropped by 5.6%. Eggs became 2.5% cheaper, and milk prices decreased by 0.5%. Conversely, oil and fat products experienced a 0.8% price increase, and fish prices rose by 0.6%.
Over the past year, vegetable prices have decreased by 18.6%. Onions and cabbage prices nearly halved, and tomatoes saw a 27.6% reduction.
Industrial goods and services
The price growth for industrial goods in July was 0.7%, with an annual growth rate of 8.3%. Clothing prices increased by 0.6% for the month and 6% over the year. Footwear prices rose by 0.3% in July and 5.5% annually. Household appliances saw a 0.9% price increase for the month and 6.8% over the year. Smartphone prices rose by 0.1% for the month and 0.6% annually, while computer prices increased by 0.8% in July and 2.1% over the year. Medicine prices went up by 2.2% for the month and by 22% annually.
Fuel prices
Gasoline prices decreased by 0.7% in July but have risen by 20% since last year. Propane prices increased by 1.9% for the month and by 16% over the year.
Service sector prices
Service sector inflation in July was 0.5%, with a year-over-year increase of 28% following energy rate hikes. The catering sector experienced a 0.7% price increase for the month and 12.2% over the year. In the hotel sector, price growth slowed to 0.2% for the month and 17.8% annually. Airfares rose by 0.8% in July and by 6.9% over the year, while railway fares increased by 2% for the month and by 43.9% annually.
Follow Daryo's official Instagram and Twitter pages to keep current on world news.
Comments (0)