Materials with tag «inflation»
Inflation increases in Uzbekistan following removal of VAT exemption on medicines and public services
Inflation in Uzbekistan increased to 0.93% in April, with annual inflation exceeding 8%. This increase was influenced by the removal of the zero VAT rate on medicines and utilities, including water supply, heating, and sewage. Prices also rose for sugar, milk, flour, meat, and other goods.
Central Bank of Uzbekistan keeps interest rate at 14% per annum, but revises inflation forecast
Central Bank of Uzbekistan kept its interest rate at 14% per annum. The regulator raised its inflation forecast to 9−11%, citing energy tariff hikes. But it asserts that the effects of these price changes in the economy are temporary. CBU also downgraded its economic growth forecast.
Uzbekistan’s March monthly inflation is below 1%, annual rate drops below 8% first time since May 2016
Uzbekistan saw an eight-year low inflation rate of 0.67% in March, with annual inflation dipping below 8%. Meat prices fell for the fifth consecutive month, the cost of milk, sugar, flour, potatoes, onions, carrots, gasoline, air travel, and rail transportation increased, the Statistics Agency says.
Uzbekistan records lowest inflation in 2023 since 2016
Inflation in Uzbekistan made up 8.77% in 2023, lowest since 2016. During the year, rice price grew by 38.7%, meat by 9.3%, milk by 13.3%, eggs by 11.7%, sugar by 11%. Gasoline prices increased by 19.1%, propane (as car fuel) by 29.4%.
Uzbekistan’s inflation rate in April was 0.8%
Food prices in Uzbekistan increased by 1.2% in April 2023, while non-food prices increased by 0.5% and services increased by 0.5%. The largest increase in food prices was for tomatoes, which rose by 21.3%, followed by rice (14.1%), carrots (13.2%), and sugar (10.5%).
In January, inflation expectations in Uzbekistan reach highest levels since July 2020
After a three-month hiatus, Central Bank resumed releasing data on inflation expectations for households and businesses. In January, household expectations reached 18.9%, and businesses 18.7%, marking the highest levels since July 2020. By March, expectations significantly decreased to 14.1−14.4%.
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