10 January 2022

Inflation did not exceed 10% in 2021

Inflation in Uzbekistan for 2021 amounted to 9.98%, follows from the data of the State Statistics Committee.

The growth of the consumer price index was in line with the 10% projected by the Central Bank. Slowing core inflation and moderately tight monetary conditions, the regulator said, helped to reach the inflation target.

Over the last month of last year, prices rose by 1.26%. For comparison, this figure in December 2020 was 1.55%, in December 2019 – 1.69%.

  • Food products in December rose in price by 2% (in the same period last year – by 2.4%).
  • Prices for non-food products increased, as in November, by 0.8% (a year ago they were 0.9%).
  • In the service sector, prices increased by an average of 0.5% (it was 0.9%).

For the first time since 2017, annual inflation was below 10%. Until that moment, the rise in prices according to official data was 3-5% per year, but the reliability of these figures is questionable.

In 2017, when statistics became more transparent and more objective, inflation was 14.4%. In 2018, it reached 14.3%, in 2019 – 15.2%. In 2020, the previous minimum was set at 11.1%.

Source: spot.uz