In December, Uzbekistan experienced its highest perceived inflation rate in 22 months.

Uzbekistan, Tashkent – According to AN Podrobno.uz, the perceived inflation rate among the population of Uzbekistan reached 14.7% in December 2024. As reported by the Central Bank, this figure marks the highest level in the past 22 months, as conveyed by a Podrobno.uz correspondent.

https://podrobno.uz/cat/economic/v-dekabre-v-uzbekistane-oshchushchaemaya-inflyatsiya-dostigla-maksimuma-za-22-mesyatsa/2025-01-21 08:12:46

Perceived inflation refers to the personal perception of changes in prices for everyday goods and services that contribute to household expenses. It acts as an emotional barometer, reflecting the mood and expectations of consumers, and can significantly influence their behavior.

The significance of the perceived inflation index has risen by 0.6 percentage points compared to November 2024. Meanwhile, the official inflation rate in the country last month was 1.04%, while the annual inflation rate slowed down to 9.8%.

The primary reasons for the increase in perceived inflation levels were sharp rises in the prices of food and services. Many respondents noted a considerable increase in prices for meat, milk, gasoline, fuel, electricity, gas, and vegetables.

The most significant changes affected meat and dairy products (48% of respondents reported price increases), as well as gasoline and fuel (47%). The cost of electricity and gas also rose significantly, with 30% to 45% of those surveyed indicating this.

In addition, respondents pointed out a strong rise in prices for vegetables, fruits, eggs, medicines, and transportation services.

A particularly noticeable increase in prices is observed in Tashkent, where the level of perceived inflation reached 18.3%. Among the regions with the highest inflation rates, the Fergana and Kashkadarya regions also stand out, with indices of 17.1%. Conversely, the lowest price increase was recorded in the Syrdarya region.

Regarding population groups, the highest increase in perceived inflation is noted among workers in the manufacturing sector (16.7%) and budget employees (16.5%). This indicator also rose among individuals with higher incomes: for citizens earning over 15 million sums, it increased from 17.8% to 18.4%.

According to the survey, the greatest price increase was also felt by citizens without a stable income, where the inflation rate stood at 16.3%.

We remind you that inflation in Uzbekistan in 2024 was 9.8%.