Consumer prices in Uzbekistan experienced a monthly increase of 0.6 percent in October, bringing the annual inflation rate to 6.5 percent, according to official reports. The National Statistics Committee indicated that the upward pressure was primarily driven by higher costs for fresh produce, potatoes, and poultry products, pushing the overall food category up by one percent over the month.
Key Takeaways: Eggplants and cucumbers surged by 9 percent, tomatoes by 8.8 percent, and potatoes by 5.3 percent in October. Meanwhile, chicken eggs rose by 5.2 percent, whereas lemons decreased by 15 percent and sugar dropped by 2.2 percent.
To compile these consumer price indices, researchers evaluated over three million individual price observations gathered from more than 10,000 retail outlets and service providers nationwide. This extensive data collection effort is designed to reflect the shifting economic realities faced by households across different regions of the country.
In addition to grocery items, inflationary trends impacted fuel markets and utility tariffs. Gasoline prices advanced by an average of 1 percent, propane ticked up by 0.4 percent, and cold water supply and sewage services jumped by 4.7 percent. Services such as taxi transport and private tutoring also registered moderate price increases.
Against this economic backdrop, the Central Bank of Uzbekistan opted to maintain its benchmark interest rate at 14 percent per annum while revising its year-end inflation forecast upward from 6.5 percent to 7 percent. Observers note that ongoing adjustments in regulated prices and seasonal factors will continue to dictate monetary policy decisions.
Source: podrobno.uz