Inflation in Uzbekistan reached 4% in January–July 2025, according to data from the Statistics Committee. Prices for goods and services rose 4% compared to December 2024. Food prices increased by 0.6%, non-food products by 3.3%, and services by 11.7%.

Sector-specific inflation ranged from 0.1% in insurance and financial services to 14.8% in housing, electricity, gas, and other fuels.
For comparison, inflation stood at 3.3% in the same period of 2023 and 4.9% in January–July 2024. Annual inflation in July 2025 was 8.9%, while a Central Bank survey showed that perceived inflation by the population was 13.3%.
A 2019 presidential decree set a permanent inflation target of 5%. The Central Bank, responsible for achieving this goal, has repeatedly revised the timeline.
Initially aiming for 5% by 2023, the deadline has since shifted multiple times: to the end of 2024, then the second half of 2025, later to 2026, then 2027, and most recently, 2028, according to the Ministry of Economy and Finance’s Fiscal Strategy.
The Central Bank began formal inflation targeting in 2020, but achieving the 5% target remains a long-term objective.
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