From January to November 2024, inflation reached 8.7%.

In November 2024, Uzbekistan's composite consumer price index (CPI) for the month was recorded at 0.9%. From January to November 2024, the cumulative CPI reached 8.7%. This information was reported by the Statistics Agency.

https://uzdaily.uz/ru/za-ianvar-noiabr-2024-goda-infliatsiia-sostavila-87/2024-12-02 08:47:37

From January to November of the current year, the short-term consolidated CPI, which measures the monthly price change, fluctuated between 102.8% (May) and 99.7% (July). The average monthly increase in the consolidated CPI for January-November 2024 was 0.8%. Thus, the value of the consolidated CPI for the month in November 2024 was 0.1 points higher than the specified average monthly value.

The annual consolidated CPI from January to November of the current year ranged from 108.0% (March) to 110.6% (May and June). The value of this indicator in November 2024 was 0.6 points lower than the peak value recorded in May and June of the current year.

In November 2024, the CPI for goods for the month was 101.0% (compared to 100.9% the previous month). By December 2023, this indicator was recorded at 103.5%.

In annual terms, this indicator stood at 104.7%, which is 4.2 points lower than the corresponding figure for November 2023.

The short-term CPI for services in November 2024 was also 100.8%, the same as in October of the current year, which is 0.7 points lower than in November of the previous year.

The CPI for services over eleven months of the current year reached 125.9%, compared to 127.8% in November 2023.

The short-term CPI for food products in November 2024 was 101.0%. Throughout January-November of the current year, this indicator fluctuated between 98.0% (May) and 101.4% (September).

For non-food products, the CPI for the month was 101.0%, and for paid services to the population – 100.8%. From January to November of the current year, the short-term CPI for non-food products reached 100.2-101.0%, and for services – 100.4-115.2%.

The CPI for November 2024 compared to December 2023 for food products was recorded at 100.7%, for non-food products – 107.3%, and for services – 125.9%.

The annual CPI for November 2024 for food products reached 102.0%, for non-food products – 108.3%, and for services – 127.8%.

Excluding fluctuations in prices for fruit and vegetable products, the CPI for food products for the month was 0.3 points lower than when accounting for changes in prices for that group of goods.

For the CPI compared to December 2023, as well as in annual terms, changes in prices for fruit and vegetable products acted as a restraining factor. Thus, the consolidated CPI for January-November 2024, taking into account the impact of price fluctuations on fruits and vegetables, was 2.4 points lower, and in annual terms – 2 points lower than without such influence.

In November of the current year, food products had the most significant impact on the change in the short-term consolidated CPI. According to calculations, the contribution to the increase in the consolidated CPI for the month from price changes in food products reached 0.44 percentage points, or 47.3% of the total increase in the consolidated index.

At the same time, services continue to dominate the structure of contributions to the increase in the consolidated CPI both by December 2023 and in annual terms.

In November 2024, the range of short-term CPI by sections was between 99.9% (Section VIII. "Information and Communication") and 101.5% (transport).

The range of CPI for January-November 2024 by sections was between 100.1% (Section I. "Food Products and Non-Alcoholic Beverages") and 137.9% (Section IV. "Housing Services, Water, Electricity, Gas, and Other Fuels").

In November 2024, the range of annual CPI by sections was between 101.2% (Section VIII. "Information and Communication") and 139.4% (Section IV. "Housing Services, Water, Electricity, Gas, and Other Fuels").

Significantly lower than in November 2023, the value of the annual CPI for November 2024 was in Section I. "Food Products and Non-Alcoholic Beverages" (101.5% compared to 109.5%), while higher in Section IV. "Housing Services, Water, Electricity, Gas, and Other Fuels" (139.4% compared to 105.4%).

In November of the current year, the value of the short-term CPI by groups in Section I fluctuated between 98.8% ("Cereals and Grain Products") and 109.0% ("Vegetables, Tubers, and Legumes"). With the exception of three groups ("Milk, Other Dairy Products and Eggs", "Oils and Fats", "Vegetables, Tubers, and Legumes"), the value of the short-term price index by groups was lower than the consolidated CPI for the month.

The CPI interval compared to December 2023 ranged from 81.1% ("Fruits and Nuts") to 110.2% ("Meat Products").

The CPI range compared to November 2023 was between 85.4% ("Fruits and Vegetables") and 110.3% ("Meat Products").

In November 2024, a decrease in prices in Section I (excluding fruit and vegetable products) was recorded for such products as rice and rice bran (-5.5%), granulated sugar (-3.0%), semolina (-2.9%), first-grade wheat flour (-1.6%), buckwheat (-1.5%), live, fresh, chilled fish (-1.0%).

The main price increases for the month were noted for food products such as cotton (+4.3%) and sunflower (+2.5%) oils, eggs (+3.3%), butter (+2.2%), vermicelli and noodles, lamb (+1.2%), raw milk (+1.0%). The price increase for beef slowed down, with its upper price limit reaching 112,000 sums per kg of meat with bones.

Compared to December 2023, prices for products such as eggplants, cucumbers, tomatoes, bell peppers, lemons, and apples decreased significantly.

Fluctuations in the CPI for November 2024 in annual terms ranged from 52.3% (grapes) to 133.4% (potatoes). Compared to November 2023, the most significant price decreases were for grapes, cucumbers, and lemons.

In November 2024, the restraining factor was the decrease in prices for cereals and grain products, fish and other seafood, as well as sugar, confectionery, and desserts, which caused the consolidated figure for the month to be lower by 0.15 percentage points.

The contribution to the increase in the short-term consolidated CPI among goods in Section I. "Food Products and Non-Alcoholic Beverages" from fruit and vegetable products reached +0.42 percentage points. The increase in prices for oil and fat, and meat products, as well as for milk, other dairy products, and eggs led to an additional increase in the consolidated index by +0.16 percentage points. The influence of other groups was less significant.

Among the goods in Section I, the diminishing effect on the consolidated CPI for November 2024 compared to December 2023 was caused by changes in prices for fruit and vegetable products, as well as for milk, other dairy products, and eggs (a total of -1.49 percentage points).

The increase in prices for meat products, non-alcoholic beverages, sugar, confectionery, and desserts, oils and fats collectively raised the consolidated CPI by 1.42 percentage points. The influence of other groups was less significant.

The most significant contribution to the increase in the consolidated CPI for November 2024 in annual terms came from price changes for meat products (+0.95 percentage points), non-alcoholic beverages (+0.20 percentage points), oils and fats (+0.14 percentage points), sugar, confectionery, and desserts (+0.11 percentage points). The diminishing effect was caused by price decreases in the groups "Milk, Dairy Products, and Eggs" (-0.11 percentage points) and "Fruits and Nuts" (-0.80 percentage points). The total contribution from other groups amounted to +0.14 percentage points.

In November 2024, the values of the short-term CPI in Section II. "Alcoholic Beverages, Tobacco Products" ranged from 100.0% (beer) to 102.7% (other tobacco products). The short-term CPI for alcoholic beverages in November 2024 was 1.7 points lower than for tobacco products.