Uzbekistan

Inflation in Uzbekistan Reaches 14.7% in December

In December 2024, the perceived inflation rate in Uzbekistan soared to 14.7%, marking the highest level since February 2023, as reported by the Central Bank’s press service. This increase surpassed November’s rate of 14.1%, while the official annual inflation rate for December stood at 9.8%.

The data revealed regional disparities, with Tashkent experiencing the highest perceived inflation at 18.3%, in contrast to Khorezm’s 12.8%. Respondents identified significant price hikes in meat, milk, gasoline, electricity, natural gas, eggs, and public transport fares during the month.

Households with incomes below 2 million UZS and above 7 million UZS faced higher levels of perceived inflation. Workers in the production sector were most affected by the rising prices, while those in the service sector reported comparatively lower levels of perceived inflation.

Official inflation rates are based on changes in the Consumer Price Index, reflecting general price level adjustments for goods and services consumed by the majority. In contrast, perceived inflation is shaped by price changes in items regularly purchased in an individual’s or family’s daily life.

Even if a regularly bought item represents a small portion of the budget, a significant price increase can have a more pronounced impact on the perception of rising prices. This emphasizes the importance of tracking and understanding perceived inflation trends in addition to official inflation figures.

 

Hostinger

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