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Finance 01/12/2020 Average level of consumer prices and tariffs in Uzbekistan increases by 1.5% in November
Average level of consumer prices and tariffs in Uzbekistan increases by 1.5% in November

Tashkent, Uzbekistan (UzDaily.com) -- In November 2020, the average level of consumer prices and tariffs in Uzbekistan increased by 1.5%, the State Statistics Committee of Uzbekistan said.

In November 2019, on average monthly prices and tariffs for goods and services increased by 1.7%. In January-November 2020, prices and tariffs in the consumer market increased on average by 9.5%. In January-November 2019, goods and services have risen on average by 13.3%. The increase in the consolidated CPI for November 2020 in annual terms was 11.3%. In November 2019, compared to November 2018, goods and services on average became more expensive by 15.6%.

Food products in November 2020 rose on average by 2.4%, non-food products- by 0.9%, and services- by 0.9%.

Due to the rise in prices for food products, the consolidated CPI for the month increased by 1.0 percentage points, which is 66.7% of the total increase. he rise in prices for non-food products added 0.3 percentage points to the consolidated indicator for the month (20.0% of the total increase). The increase in prices and tariffs for services increased the consolidated indicator for the month by an additional 0.1 percentage points. (13.3% of the total increase).

The range of fluctuations in the contribution to the monthly increase in the consolidated CPI of price changes for non-food products during January-November 2020 was at the level of 0.1-0.4 p.p., for paid services to the population - within 0.1-0.2 p.p. Against this background, the range of the contribution of food inflation during the analyzed period of the current year was wider (from - 0.6 p.p. to 1.4 p.p.). At the same time, during the last three months of the current year, the prevailing influence of food inflation (0.9-1.0 p.p.) remained, while for non-food products this indicator was recorded in the range of 0.3-0.4 p.p., services - 0.1-0.2 p.p.

In general, in January-November 2020, the level of prices for food products increased by 12.6%, non-food products - by 7.8%, services - by 6.1%.

In November of this year, just as in the previous months of 2020, the dominance of the contribution to the increase in the consolidated CPI over December of the previous year of price changes for food products remained.

By November of this year, the contribution of price changes for goods to the increase in the consolidated CPI by December 2019 reached 8.1 p.p. The dynamics of the impact of price increases for non-food products and paid services throughout the entire period was steadily directed towards a gradual increase. For food products, this indicator increased in the first four months of the year, after which the seasonal factor was reflected in a decrease in the contribution (to 2.2 p.p. in August), and from September it again took a course towards an increase and by November it reached 5.4 p.p.

In specific indicators, the share of the impact of price changes in food products in November 2020 was 56.8%, nonfood products - 28.4%, services - 14.8% of the total increase in the consolidated CPI by December 2019.

As for the annual CPI for the main groups of goods and services, as shown by the monthly comparison for January-November 2019 and 2020, by the end of the analyzed period of 2020, the CPI for food, non-food products and paid services to the population was lower than in November 2019. At the same time, for food products the difference in indicators was 2.1 points, non-food products - 3.5 points, services - 9.8 points.  

As for the annual CPI for the main groups of goods and services, as shown by the monthly comparison for January-November 2019 and 2020, by the end of the analyzed period of 2020, the CPI for food, non-food products and paid services to the population was lower than in November 2019. At the same time, for food products the difference in indicators was 2.1 points, non-food products - 3.5 points, services - 9.8 points.

Monthly comparison of the annual CPI for the main groups of goods and services for January-November 2019 and 2020 showed that during the specified period the maximum absolute difference in indicators for food products was noted in April (3.1 points), for non-food products - in September and October (3.9 points), for services - in September (13.6 points).

As for the impact of price changes in the main groups of goods and services on the growth of the consolidated CPI in annual terms, in November of this year due to the rise in prices for food products, this indicator increased by 6.9 p.p., non-food products - by 2.9 p.p., services - by 1.5 p.p. The share of the contribution of price increases for the main groups to the increase in the consolidated CPI for November 2020 to November 2019 amounted to 61.0% of the total impact for food products, 25.7% for non-food products, and 13.3% for services.

In November 2020, the observed types of food products increased in price on average over a month by 2.4%. In November 2019, on average per month, food prices increased by 3%. In January-November 2020, food prices increased on average by 12.6%. In January-November 2019, food prices increased on average by 14.8%. The CPI growth for goods of this group in November 2020 in annual terms was 16.3%. In November 2019, compared to November 2018, food products became more expensive by 18.4%

The average monthly CPI growth for food products in January-November 2020 amounted to 1.2% against 1.3% in the same period in 2019.

The short-term CPI versus the previous month in this group was largely influenced by the seasonal rise in prices for fruits and vegetables, as well as for sugar, confectionery, meat, dairy, and fat and oil products. Of the main observed groups of food products in November of this year, the most significant increase in prices was recorded for fruits and vegetables (7.8%). Fat and oil products increased in price by 3.3% over the month, meat, poultry and fish - by 1.5%, sugar, tea and other food products - by 1.5%, dairy products - by 1.2%. Prices in public catering in November increased by 3.1%, alcoholic beverages rose by 1.1%, non-alcoholic - by 0.3%. Compared to the end of 2019, the most significant price increases were recorded for eggs (33.0%), oil and fats (24.2%), meat, poultry and fish (16.7%), as well as for bakery products (14, 2%).

The peak of growth in prices for bakery products in January-November 2020 was recorded in April, when prices for goods in this group increased by an average of 4.3%. The average monthly CPI growth in January-November in this group was 1.2%.

As for bakery products (including cereals and legumes), higher prices for peas (2.9%) and noodles (1.5%) were recorded for the month than for other goods in this group. Decrease in prices for the month was recorded for buckwheat (-0.6%), beans (-0.5%) and mung bean (-0.2%). Since the beginning of the year, buckwheat (1.5 times) and beans (1.3 times) have risen more than others.

The peak of growth in prices for meat, poultry and fish was registered in September (3.8%), and their minimum increase was in January, June and July (0.4% each). The CPI for these products in November of this year against December 2019 amounted to 16.7% with an average monthly growth of 1.4%.

In November of this year, meat, poultry and fish on average per month became more expensive by 1.5% (since the beginning of the year 16.7%). Over the month, pork increased in price by 2.2% (13.7%), lamb - by 1.7% (24.2%), boneless beef - by 1.6% (20.0%), other beef - by 1.5% (20.0%), minced meat - by 1.4% (16.5%). Poultry meat in November rose in price by 0.5-0.6% (since the beginning of the year in the range from 2.0% to 4.8%), live, fresh, chilled fish - by 0.5% (10.3%).

The peak of growth in egg prices was registered in October (by 17.7% over the month), the largest decline was in March (-3.5%). The CPI for eggs in November this year against December 2019 amounted to 133.0%, and the average monthly growth of the index reached 2.6%.

The maximum monthly prices for dairy products increased in April (2.5%), the minimum - in July (0.1%). The increase in prices in November for the month was 1.2%. The CPI for dairy products in November this year against December 2019 amounted to 109.7% with an average monthly growth of the index by 0.8%.

Among dairy products, prices for fresh milk (1.9%) and cream (1.5%) rose more significantly than others. Since the beginning of the year, the most significant price increases were also recorded for fresh milk (14.2%) and cream (12.5%).

In November, there was a peak in the growth of prices for the month for fruits and vegetables (7.8%), and the maximum decrease was in June (-8.4%). At the same time, the average price level for these products in November of this year was 4.2% higher than at the end of 2019.

Among the goods of this group in November of this year, the most pronounced growth in prices for fresh cucumbers and tomatoes (2.1 times and 1.9 times, respectively). Along with this, a decrease in prices was recorded for lemons (-6.6%), carrots (-5.6%), turnips (-5.5%), garlic (-2.5%).

Lemons (1.9 times) continue to hold the lead in terms of price growth relative to the end of 2019, and bell peppers (by 74.5%) in terms of decline.

The peak of growth in prices for sugar, tea and other products was registered in September (2.3%), the minimum increase - in January and July (0.2%). In November, prices for goods of this group increased on average by 1.5%. Since the beginning of the year, prices for sugar, tea and other food products have increased by 10.2% on average, with an average monthly increase in the price index of 0.9%.

Prices for granulated sugar in November of this year increased by 2.4% (since the beginning of the year - by 18.5%), refined sugar - by 2.5% (16.2%). Over the month, confectionery products increased in price by 1.5% (since the beginning of the year - by 10.3%), coffee and tea - by 1.2% (by 7.4%), other food products (salt, spices, seasonings and others) - by 0.8% (6.0%).

The most significant increase in prices for oil and fats during the first eleven months of 2020 was recorded in October (by 9.5% over the month). In November, the rise in prices for the group for the month amounted to 3.3%. Since the beginning of this year, oil and fat products have risen on average by 24.2% with an average monthly increase in the price index by 1.1%.

Over the past month, cottonseed oil has become more expensive by 4.1%, sunflower oil - by 3.4%, animal and melted fats - by 3.3%, margarine - by 2.0%, butter - by 1.7%. Since the beginning of the year, cottonseed oil has risen in price by 29.2%, sunflower oil - by 28.1%, butter - by 12.9%, animal and rendered fats - by 13.6%, margarine - by 11.8%.

Eggs continue to hold the lead in price growth relative to the corresponding month of last year among the main groups of food products, which in annual terms have risen in price by 1.4 times.

Analysis of the structure of the influence of changes in prices for the main groups of food products on the value of the consolidated CPI for the month showed that the most significant contribution to the change in the consolidated indicator was made by price changes for fruits and vegetables (0.61 p.p.). Due to the rise in prices for meat, poultry and fish, the consolidated CPI for the month increased by 0.15 p.p., oil and fats - by 0.10 p.p., sugar, tea and other food products - by 0.09 p.p., dairy products - by 0.04 p.p., bakery products - by 0.03 p.p. The decline in egg prices reduced the consolidated CPI by 0.01 p.p.

In the structure of the consolidated CPI growth by December 2019, the most significant share of food products belongs to meat, poultry and fish (1.71 p.p.), as well as bakery products (0.97 p.p.). Due to the growth in prices for oil and fats, the consolidated CPI increased by 0.72 p.p. by December 2019, sugar, tea and spices - by 0.61 p.p., dairy products and fruits and vegetables - 0.33 p.p. each, eggs - by 0.28 p.p. The most significant contribution to the growth of the consolidated CPI in annual terms from food products was made by meat (1.81 percentage points) and fruits and vegetables (1.43 percentage points) products, as well as bakery products (1.10 percentage points).

Non-food items in November 2020 increased on average by 0.9%. In November 2019, on average per month, food prices increased by 0.8%. In November 2020, relative to December 2019, the increase in prices for goods of this group was 7.8%. In January-November 2019, food prices increased on average by 10.4%. The CPI growth for goods of this group in November 2020 in annual terms was 8.3%. In November 2019, compared to November 2018, food products became more expensive by 11.8%

The average monthly CPI growth for non-food products in January-November 2020 amounted to 0.7%, in January-November 2019 - 0.9%.

In November 2020, of the main observed groups of non-food products, the leader in price growth for the month, as in the previous two months, belongs to fuel for cars, which on average rose by 1.6%.

Compared to December 2019, prices for printed products (14.3%), medicines (12.7%) and construction materials (10.9%) increased most significantly.

In annual terms, the leaders in price growth were books, newspapers, magazines (14.5%), medicines (13.4%), building materials (11.4%) and tobacco products (10.8%). As for the contribution of price changes of the main groups of nonfood products to the increase in the consolidated CPI for the month, at the end of November 2020, the most significant contribution, taking into account the specific weight, was made by the increase in prices for clothing and footwear (0.14 p.p.), fuel, etc. spare parts for cars (0.05 p.p.).

The leaders in terms of contribution to the growth of the consolidated CPI in November of the current year against December 2019 from the main groups of non-food products included clothing and footwear (0.79 p.p.), building materials and medicines (0.36 p.p. each). In total, these groups provided about 55.9% of the total impact of non-food products. The most significant contribution to the growth of the consolidated CPI in annual terms was also made by the increase in prices for clothing and footwear (0.88 p.p. in total), as well as construction materials and medicines (0.37 p.p. each). The total contribution of these groups to the growth of the consolidated CPI in annual terms amounted to over 55% of the total impact of non-food products.

In November 2020, monthly tariffs for paid services to the population increased by 0.9%. In November 2019, on average per month, paid services went up by 0.6%. In November 2020, relative to December 2019, the increase in tariffs in the service sector was 6.1%. In January-November 2019, services increased on average by 14.9%. The increase in CPI for paid services to the population in November 2020 in annual terms was 6.5%. In November 2019, compared to November 2018, paid services to the population became more expensive by 16.3%.

The average monthly CPI growth for paid services to the population in January-November 2020 amounted to 0.5% against 1.3% in the same period in 2019. Leadership in the growth of tariffs in November this year was shared by household services and medical services, which became more expensive by 1.6% over the month.

Leadership in the growth of tariffs relative to December 2019 belongs to the services of state preschool educational organizations (15.2%), consumer services (11.4%), recreation (10.1%), passenger transport (10.5%) and medical services (10.2%).

 

In annual terms, the most significant increase in prices was recorded for services of state preschool educational organizations (15.2%), household services (12.5%) and passenger transport services (10.9%).

The most significant contribution to the growth of the consolidated CPI for the month was made by the increase in prices and tariffs for household (0.07 p.p.), housing and communal services (0.05 p.p.) and medical (0.04 p.p.) services.

Of the main observed groups of paid services to the population, a more significant contribution to the increase in the consolidated CPI relative to the end of 2019 was the contribution of the increase in tariffs for household services (0.52 p.p.), passenger transport services (0.33 p.p.) and medical services (0.25 p.p.). In total, they provided over 78% of the total impact of services and about 11.6% of the increase in the consolidated CPI for January-November 2020.

The above three groups of services are also leaders in terms of influence on the growth of the consolidated CPI in annual terms. Due to the growth in tariffs for household services, the consolidated CPI by November 2019 increased by 0.57 percentage points, the increase in tariffs for passenger transport services added 0.34 percentage points to it, medical services - 0.27 percentage points. The total contribution of the listed groups of services to the growth of the consolidated CPI exceeded 10%, which is over 79% of the total impact of services.

 

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