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Finance 02/03/2020 Average monthly increase in consumer prices and tariffs was 0.8% in February
Average monthly increase in consumer prices and tariffs was 0.8% in February

Tashkent, Uzbekistan (UzDaily.com) -- In February 2020, the average monthly increase in consumer prices and tariffs was 0.8%. In the first two months of 2020, goods and services on average rose by 1.4%, the State Statistics Committee of Uzbekistan said.

Compared to February 2019 prices and tariffs increased by 13.5%. In February 2019, the average monthly price of goods and services increased by 1.6%.

In January-February 2019, goods and services rose on average by 3.1%. Compared to February 2018, the average increase in prices and tariffs in the consumer market was 13.5%.

The calculation of the average monthly CPI1 growth in January-February showed that in the specified period in 2020 it was 0.7%, while in the same period in 2019 it was 1.5%. The annual consolidated CPI in February 2020, compared with the same indicator of the previous month, decreased by 0.8 points (from 114.3% to 113.5 %), and compared with this indicator in December 2019 – by 1.7 points. As for changes in prices in terms of enlarged groups, the leadership in price and tariff growth belongs to food products, which in February of this year rose by 1.3%, while non-food products added 0.6% in price, and services – 0.3%.

in February 2019, the leadership in raising prices and tariffs also belonged to food products, which became more expensive by 2.0% over the month. Non-food products rose by 1.5% over the same period, while services rose by 0.8%.

With the overall increase in the consolidated CPI in February of this year for the month by 0.84 percentage points (hereinafter - p.p.), about 0.57 p.p. is associated with an increase in prices for food products. ü The increase in prices for non-food products added an additional 0.20 p. p. to the aggregate indicator for the month. ü Due to the growth of tariffs for paid services, the consolidated CPI increased by 0.07 percentage points.

In February 2019, the consolidated CPI for the month also developed, mainly under the influence of rising food prices. So, with the total growth of the consolidated CPI for the month by 1.58 points, due to rising prices for food products, this indicator increased by 0.88 p. p., non-food products - by 0.52 p. p., services - by 0.18 p.p.

In February 2020, food products accounted for 67.8%, non-food products - 23.5%, and services - 8.7% of the total monthly CPI growth.

In general, in January-February 2020, the level of prices for food products increased by 2.4%, non-food products - by 0.8%, services - by 0.6%.

Assessment of the contribution of price changes taking into account the share of each enlarged group showed that in February 2020 the influence of price changes on food products prevailed.

The influence of food products in February 2020 accounted for 70.5%, nonfood products - 19.3%, services - 10.2% of the total growth of the consolidated CPI Foodstuffs compared to December 2019.

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 February this year, due to rising prices for food products, this indicator increased by 6.73 percentage points, non-food products - by 3.42 percentage points, services - by 3.33 percentage points.

In February 2020, food products for the month rose by 1.3%, or 0.3 points more than the same indicator last month.

Of the main observed groups of food products, prices for fruits and vegetables (3.2%), meat, poultry and fish (1.9%), bread products and alcoholic beverages (0.8% each) increased most significantly over the month, and relative to the end of 2019 - for fruits and vegetables (7.2%), as well as meat, poultry and fish (2.3%).

In February 2019, among the main groups of food products, fruits, vegetables and potatoes (4.0%), dairy products (3.2%), as well as public catering (3.3%) rose in price more significantly than others over the month. These same 3 groups of food products held leading positions in price increases for January-February 2019. So, fruits, vegetables and potatoes in the first two months of 2019 became more expensive by 12.6%, catering - by 6.9%, dairy products - by 6.5%.

Of bakery products (including cereals and legumes) higher than for other goods of this group, there was an increase in prices for beans (2.6%), peas (2.0%), mung bean (1.9%), buckwheat (1.7 %), as well as vermicelli and noodles (1.4% each). Wheat flour for the month has become more expensive by 0.6%.

In February 2019, bakery products (including cereals and legumes) rose by 0.9%, including vermicelli, pasta and similar products - by 2.4%, mung - by 2.3%, rice - by 1.9%, buckwheat - by 1.0%, beans - by 0.6%, flat bread - by 0.5%, wheat flour - by 0.4%.

Of the main types of meat products, most significantly in February 2020, prices rose for boneless beef (2.9%), minced meat, as well as live and chilled fish (2.5%).

Of the other products in this group, an increase in prices for liver, tongue, and similar products was registered (from 2.0% to 2.3%). At the same time, for the second month in a row, there was a decrease in prices for poultry meat (in the range from 0.4% to 1.0%).

Egg prices in February of this year decreased by 2.2%. However, taking into account the increase in prices for them in January by 3.0%, the price level for this product in February 2020 was higher than at the end of 2019 by only 0.8%.

Of the main types of dairy products in February 2020, kaymak (0.9%), fresh milk (0.8%), sour cream, kefir, yogurt and hard cheeses (0.6% each) rose more significantly than others.

Prices for granulated sugar and refined sugar in February this year increased by 0.3%, including granulated sugar - by 0.2%, refined sugar - by 0.7%. Confectionery products increased on average by 0.7%, coffee and tea - by 0.5%, other food products (salt, spices, condiments, sauces, etc.) - by 0.3%.

Most clearly the seasonal factor was manifested in the nature of changes in prices for fruits and vegetables. The most pronounced for the month was an increase in prices for apples (8.5%), garlic (4.4%), as well as for fresh cucumbers and tomatoes (4.3% and 4.2%). Along with this, for a month bananas became cheaper by 5.5%, carrots - by 0.7%, oranges - by 0.6%, white cabbage, as well as salted and pickled tomatoes - by 0.4%, turnips - by 0.2%.

Of the oil and fat products in February 2020, butter became more expensive by 0.9%, animal fats - by 1.8%, margarine - by 0.7%. Vegetable oil grew by 0.5% in a month, including sunflower - by 0.9%, cotton - 0.2%.

As for the change in consumer prices for the main groups of food products in annual terms, the eggs continue to hold leadership in price growth relative to the corresponding month last year for the second month in a row (31.3%).

An analysis of the contribution of price increases of the main food product groups to the growth of the consolidated CPI for the month showed that in February of this year, the leaders included fruits and vegetables, meat, poultry and fish, as well as bakery products. In total, they ensured an increase in the consolidated CPI by 0.49 percentage points, which is about 86.0% of the impact of food products.

In the structure of the consolidated CPI compared to December 2019, the most significant share of food products belongs to fruit and vegetable and meat products (the total impact is 0.79 percentage points). As for the annual CPI contribution to the growth of the consolidated CPI, meat, poultry and fish take the leading position in food products (influence 2.37 p.p.).

In February 2020, non-food products on average became more expensive by 0.6%. Compared to December 2019, the increase in prices for goods of this group amounted to 0.8%, and February 2019 - 9.9%.

In February 2020, of the main observed groups of non-food products, price increases exceeding the group average (0.6%) were registered for threads (1.2%), haberdashery, watches (1.1%), kitchen utensils, clothes and shoes (0.8%), construction materials and agricultural implements (0.7%).

A comparison of the CPI to the previous month for the main groups of non-food products for February 2020 and 2019 showed that the increase in prices for them, in most cases, was higher in February 2019.

Printed products are the leader in price growth compared to December 2019 (11.9%), and jewelry has risen significantly in annual terms (18.1%).

Regarding the contribution of price changes of the main groups of non-food products to the growth of the consolidated CPI for the month, according to the results of February 2020, the most significant contribution, taking into account the share, was the increase in prices for clothes and shoes (in total 0.09 percentage points, or about 45.0% of the total impact of non-food items).

The increase in the consolidated CPI for February 2020 compared to December of the previous year among the main groups of non-food products was also most significantly affected by an increase in prices for clothes and shoes (0.13 percentage points, or about 46.4% of the influence of non-food products). These two groups, as well as fuel for cars, are leaders in terms of their contribution to the growth of the consolidated indicator compared to February 2019 (1.58 percentage points, or about 46.2% of the influence of all goods in this group).

In February 2020, the increase in tariffs for paid services to the population for the month amounted to 0.3%. Since the beginning of this year, paid services on average have become more expensive by 0.6%. Compared to February last year, tariffs in the field of paid services to the population increased on average by 14.5%.

In February 2019, tariffs for paid services to the population for the month increased by 0.8%. In the first two months of 2019, tariff growth in this sphere amounted to 1.3%. Compared to February 2018, the cost of paid services to the population on average increased by 14.9%.

Of the main observed types of paid services to the population, household services became more expensive than others in February this year (1.5%), including the repair of textiles used in the household - by 3.2%, and the washing of personal vehicles - 2.5%, hairdressing services - 2.4%, maintenance and repair of personal vehicles - 2.1%, tailoring - 2.0%.

Of other types of services, in February of this year, tariff increases were registered for services of sports (0.5%) and medical institutions (0.3%), as well as in the field of leisure (0.2%). At the same time, a decrease in the cost of certain services of air and rail transport was registered. So, the cost of tickets for flights to the observed directions on average decreased by 1.7%, and travel on long-distance trains - by 0.4%, which is associated with the pricing policy of companies and the volatility of the national currency.

In February 2019, household services became more expensive during the month by 3.5%, leisure services - by 1.9%, in the field of sports - by 1.4%, medicine - by 1.1%, passenger transport, communications, education and culture - 0.2% each, housing and communal services - 0.1%.

In general, in the first two months of 2020, leisure services (4.7%) and household services (2.0%) rose more significantly than others.

As for changes in tariffs for paid services to the population in annual terms, of the main groups observed, the most noticeable growth was registered for education services (21.5%), pre-school educational institutions financed from the state budget (20.2%), housing and communal services (17.5%), household services (16.4%), recreation services (12.0%), and medical services (11.9%).

Assessing the contribution of tariff changes of the main service groups to the growth of the consolidated CPI for February 2020, we can say that the leadership belongs to household services (0.06 percentage points, or 85.7% of the total impact of services).

Of the main observed types of paid services to the population, the contribution to the increase in tariffs for household services (0.09 p.p., or about 64.3% of the total impact of paid services) was more significant in the growth of the consolidated CPI relative to the end of 2019. As for the impact on the growth of the composite indicator in annual terms, the leading positions belong to housing and communal services (1.06 p.p.) and household services (0.75 p.p.).

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