Inflation fell from 9 percent for the first time in nearly 7 years

In Uzbekistan, as of July 2023, it was reported that official inflation in the last year fell by 8.9 percent. Thus, in the period following August 2016 (8.6), inflation fell from 9% for the first time. Food inflation is 10.7 percent.
In July, goods and services in the consumer sector decreased by an average of 0.2 percent, the statistics agency reported.

After two consecutive months of seasonal deflation, annual inflation (compared to July last year) fell by 8.9 percent. Since the beginning of the year, prices in the consumer sector have grown by an average of 3.3 percent.

The annual inflation of 8.9 percent is the lowest in the period after August 2016 (8.6 percent).

The statistical body noted that in July 2023, food products on average fell by 0.9 percent, non-food goods by 0.3 percent and paid services by 0.5 percent.

In the annual ratio, food prices averaged 10.7 percent, non-food products 7.3 percent, and services 8.2 percent.

Foods that fell in price in July: sugar (-4.6%), eggs (-4%), sunflower oil (-3%), milk (-2.8%), flour (-2.1%). In the annual proportion, milk was reduced by 17.5%, sunflower oil by 14.7%, flour by 5.5%; eggs by 12.2%, sugar by 5.6%.

Foods with increased prices in July: rice and rice Sturgeon (+1.7%, annual +50.6%), Bony beef (+0.7%, annual +13%), mutton (+0.5%, annual 12.5%).

Of the fruits and vegetables, cucumbers (+8.1%), melons (6.3%), carrots (+5.9%), lemons (+4.9%), grapes (+4.4%) and apples (+3.5%) were the most expensive in July. Eggplant (-37.6%), bell peppers (-36.8%), tomatoes (-30.5%) and onions (20.2%) are significantly cheaper.

Gasoline prices have increased in all regions, as in last month – by an average of 2% in the Republic. The cost of fuel for vehicles increased by 0.2 percent, including propane by 0.8 percent. Vehicle maintenance and repair services were valued at 2.5 percent.

The cost of passenger services in air transport increased by 4.3 percent in July. This was explained by the change in the National valuta course towards the euro. Rail ticket prices have risen by 1.2 percent.

Prices in public catering areas have been estimated at between 0.2% and 2.3% in 9 areas. Prices for hotel services have increased from 1.7% to 2.4% in 4 areas.

Recall, at a press conference held yesterday, the chairman of the central bank Mamarizo Nurmurodov said that the official inflation figures of the statistical agency are also confirmed by alternative calculations carried out by the MB.