Annual inflation in Uzbekistan edges down to below 9%

By Muzaffar Ismailov in Tashkent August 1, 2023

Annual inflation in Uzbekistan declined to 8.94% y/y in July, the lowest level seen in recent years. Inflation in June was 9.03% y/y and -0.29% m/m.

Among food items, the strongest decline for seasonal reasons applied to vegetables at minus 7.4% for the month. Tomato prices have fallen by almost a third since a price surge at the beginning of the year, but they are still 61% more expensive than in July 2022.

Onions now cost 20% less than a month ago, and the are cheaper by around 25% year on year. Potato prices decreased by 14.5% and eggplant prices by 37.6%. Cucumber prices rose by 8.1% and carrots by almost 6%.

Manufactured goods in July became 0.3% more expensive, while their prices increased by 7.3% y/y.

Gasoline during July became 2% more expensive.

The biggest July price gain was seen in the services sector at 0.5%.

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