Tashkent, Uzbekistan (UzDaily.com) — In December 2024, the consolidated CPI for the month in Uzbekistan was 1%, according to the Statistics Agency.

In annual terms (by December 2023), this figure was recorded at 9,8%. According to calculations, the average monthly growth of the consolidated CPI for January-December 2024 reached 0,8%.

During 2024, the short-term consolidated CPI, i.e. the indicator of price changes per month, was within the range of 102.8% (May) to 99.7% (July). Such fluctuations are due to the impact of tariff changes for electricity and gas since May of this year, as well as the seasonality factor in the summer months.

The consolidated CPI value for the month in December 2024 was 0.2 points higher than the monthly average for January-December 2024.

The annual consolidated CPI from January to December 2024 was in the range of 108.0% (March) – 110.6% (May and June). The value of this indicator in December 2024 was 0.8 points lower than the peak value recorded in May and June of that year.

In December 2024, the CPI for goods for the month was 101.2% (versus 101.0% the previous month). This is comparable to the figure for December 2023, and lower than in December 2020- 2022.

For services, the shortterm CPI value for December 2024 was 100,7%, which is 0.8 points lower than the 2023 figure.

The annual CPI for December 2024 was recorded at 104.7% for goods and 126.7% for services.

The annual CPI for services was significantly higher than in 2023, which is due to the implementation of the next stage of tariff liberalization in the gas and electricity supply sector.

The annual CPI for goods in December 2024, on the contrary, was lower than the 2023 figure. This is largely due to the relative stability of prices for basic food products.

The short-term CPI for food products in December 2024 was 101.8%.

For non-food products, the CPI for the month was 100.4%, for paid services to the population – 100.7%.

The CPI for December 2024 compared to December 2023 for food products was recorded at 102.4%. Over the past five years, this has become the lowest value in annual terms for December.

The annual CPI for non-food products was 107.7%. For services, it reached 126,7%, becoming the highest value for December since 2020.

During 2024, the short-term CPI for food products fluctuated in the range from 98.0% (May) to 101.8% (December). The volatility of this indicator for non-food products was less pronounced (from 100.2% in February to 101.0% in December), while for services, on the contrary, it was more pronounced (from 115.5% in May to 100.4% in August).

The annual CPI for 2024 for food products ranged from 102.0% (November) to 109.3% (January), non-food products – from 107.2% (March) to 108.6% (August), services – from 108.9% (January) to 128.7% (September).

Without taking into account fluctuations in prices for fruit and vegetable products, the consolidated CPI for the month reached 100.7%, which is 0.3 points lower than the short-term CPI taking into account changes in prices for goods in this group.

For the consolidated CPI for December 2024 in annual terms, the change in prices for fruit and vegetable products acted as a restraining factor. Thus, this indicator, taking into account the impact of price fluctuations for fruits and vegetables, was 2.2 points lower than without taking such impact into account.

In December 2024, food products had the most significant impact on the change in the short-term consolidated CPI. According to calculations, the contribution to the growth of the consolidated CPI for the month from price changes in food products reached 0.8 p.p., or more than 75% of the total growth of the consolidated index.

In the structure of the contribution to the growth of the consolidated CPI by December 2023, the impact of price changes on services prevailed, which increased the consolidated indicator by 6.2 p.p. A less significant contribution was noted from non-food (+2.5 p.p) and food (+1.1 p.p) goods.

In December 2024, the short-term CPI range by section ranged from 100.1% (Section VIII. “Information and Communication”) to 101.8% (Section I. “Food and Non-Alcoholic Beverages”).

The range of the annual CPI in December 2024 was between 102.0% (Section I. “Food and non-alcoholic beverages”) and 138.1% (Section IV. “Housing services, electricity, gas and other types of fuel”).

In the group "Grain legumes and cereal products", the CPI fell below 100% both monthly (99.3%) and year-on-year (99.5%). A decrease in prices for this group was noted in January-February, as well as from October to December 2024.

The CPI for meat products in December 2024 reached 100.7% for the month, and 111.0% by the end of 2023. The range of the short-term CPI in this group throughout 2024 was within 99.7% (February) – 103.9% (August).

Fish and other seafood increased in price less significantly over the year (+6.5%), and the range of the short-term CPI for them during 2024 was 99.2% (November) – 102.0% (April).

The CPI for milk, other dairy products and eggs in December 2024 was 105.3% for the month, and 102.0% in annual terms. The range of the short-term CPI during 2024 was in the range of 95.7-105.3%.

The same indicator for oils and fats fluctuated from 99,1% (February) to 105,2% (December). throughout 2024. The annual CPI for oil and fat products was 111,8%. Fruits and nuts have traditionally been subject to significant price fluctuations related to seasonality. Since 2024, the monthly CPI for this group has been in the range from 88.8% (July) to 103.0% (April). The annual CPI from January to December 2024 decreased from 138.9% to 81.8%, or by 57,1 points.

The CPI for vegetables, root crops and legumes in December 2024 compared to November 2024 was 108.0%, compared to December 2023 - 100.7%. A decrease in prices in the group was recorded from April to July 2024 within the range of 1.2-17.3%. The CPI for sugar, confectionery and desserts in December 2024 for the month was 99.6% (103.3% for the year), prepared food and other food products - 100.6% (107.1%), soft drinks - 100.3% ( 109.0%)).

The main price increase in December 2024 (excluding fruit and vegetable products) was noted for food products such as eggs (+19,5%), cottonseed (+9.2%) and sunflower (+6.1%) oils.

According to observed trading objects, the upper price limit for eggs in December 2024 fluctuated within the range of 19,000-24,000 soums per dozen. Of the main food products, vegetable oils (+14.8%) and meat (within 13.3-14.6%) have increased in price the most in 2024.

In December 2024, price reductions were recorded for the following types of products: rice (within 2.3-2.4%), firstgrade wheat flour (-1.3%), buckwheat (- 0.8%), and refined sugar (-0.7%). Over the year, the following products have become cheaper: buckwheat (-9.6%), rice and rice groats (-6.3%), eggs (-7.3%), first-grade wheat flour (- 5,7%), and granulated sugar (-3.7%).

In December 2024, a seasonal decrease in prices for citrus fruits, bananas, carrots, and beets was noted within 4.1-16.4%. Cucumbers, bell peppers, eggplants, tomatoes, potatoes and onions, on the contrary, increased in price by 5.7 to 52.7% over the month.

A price reduction for 2024 was noted for eggplants, lemons, tomatoes and cucumbers, bell peppers, and bananas. Potatoes, garlic, carrots, beets, onions, tangerines, and greens have increased in price by 1.4-39.9% over the year.

In December 2024, the restraining factor was the decrease in prices for grain crops and cereal products, as well as sugar, confectionery and desserts, due to which the consolidated indicator for the month became lower by 0.07 p.p.

The contribution of fruit and vegetable products to the growth of the short-term consolidated CPI among goods in Section I. "Food and non-alcoholic beverages" reached +0.41 p.p. The increase in prices for milk, other dairy products and eggs, oil and fat and meat products led to an increase in the consolidated indicator by another +0.40 p.p. The influence of other groups was less significant.

Of the goods included in Section I, the downward effect on the consolidated CPI for December 2024 compared to December 2023 was caused by changes in prices for grain crops and cereal products, as well as for fruits and nuts (in total -1.04 p.p.). Due to the growth in prices for meat products, the consolidated indicator in annual terms increased by 1.02 p.p.

A significant contribution to the growth was also made by changes in prices for oil and fat products (+0.31 p.p.), soft drinks (+0.20 p.p.), sugar, confectionery and desserts (+0.10 p.p.). The increase in prices for milk, other dairy products and eggs, prepared food and other food products added another 0.08 p.p. to the consolidated CPI. The influence of other positions was less significant.

In December 2024, the short-term CPI values in Section II. "Alcoholic beverages, tobacco products" ranged from 99,6% (wine) to 101.0% (beer). The annual CPI for alcoholic beverages in December 2024 was 1.8 points lower than for tobacco products. The CPI values for Section II goods relative to the end of 2023 ranged from 107.0% (other tobacco products) to 113.3% (cigarettes).

The range of the short-term CPI in December 2024 from Section III. "Clothing and footwear" was in the interval from 99.8% (sandals, women’s sandals) to 102.0% (men’s fur hats). Clothing has increased in price slightly more significantly than footwear in 2024 (CPI 105.1% versus 104.8%). The CPI for goods and services in Section III by December 2023 was in the range of 102.9 - 112.5%.

In December 2024, an increase in fees for hot water supply and heating services was recorded in the Kashkadarya region. Tariffs for other types of utilities were stable during the month. The CPI for the services of locksmiths, plumbers, electricians and painters by November 2024 fluctuated within 100,5-101,3%. Compared to December 2023, tariffs for the supply of network gas and electricity have increased more significantly than others, which is associated with the gradual liberalization of prices for these services.

In December 2024, an increase in fees for hot water supply and heating services was recorded in the Kashkadarya region. Tariffs for other types of utilities were stable during the month. The CPI for the services of locksmiths, plumbers, electricians and painters by November 2024 fluctuated within 100,5-101,3%. Compared to December 2023, tariffs for the supply of network gas and electricity have increased more significantly than others, which is associated with the gradual liberalization of prices for these services.

In December 2024, the upper limit of the short-term CPI for goods and services of Section VI rose to 101.2% (vitamins), the lower limit was fixed at 100.1% (immunization services). For the annual CPI, this range was from 107.7% (Vision aids) to 128.5% (Antibiotics).

The short-term CPI for propane in December 2024 was 89.7%. Its price fluctuated within the range of 6 000-7 200 soums per liter. Gasoline also became cheaper, but less significantly. The CPI for the month for it was 99.2%. At the same time, the price at various points of sale was fixed within the range of 6 900-8 500 soums per liter for the AI-80 brand and reached 13 000 soums per liter for the AI-95 brand. 99,3 105,9 89,7 130,9 100,2 121,0 100,2 112,6 103,7 112,2 100,3 101,2 The annual CPI for December 2024 ranged from 100.0% (metro and tram fares) to 140.1% (commuter train fares).

In December 2024, the average level of prices and tariffs for IT services increased by only 0.1%. The short-term CPI for information and communication equipment repair services amounted to 101.7%, The short-term CPI range for information and communications equipment was 100.1% (mobile telephone equipment) – 100.9% (fixed telephone equipment). The annual CPI for goods and services in this section ranged from 98.9% (mobile communication services) to 113.3% (repair of information and communication equipment).

In December 2024, the short-term Section IX CPI range was 99.6% (A4 paper) – 105.3% (fresh flowers). The annual CPI for goods and services of Section IX was within the range of 88.2% (A4 paper) – 126.7% (monthly magazine at retail).

In December 2024, price increases were recorded only for educational services in the private sector. The short-term CPI for the services of non-state kindergartens was 100,2%, tutors - 101,2%, foreign language courses and other educational areas – 101,4%. The upper limit of the annual CPI reached 120,0% (services of state preschool educational institutions*), the lower limit – 100,5% (education in non-state universities on a contract basis).

In December 2024, an increase in prices for food and beverage services was recorded in all regions. However, compared to November 2024, it was less significant. The short-term CPI on average in the republic fluctuated within 100,6-100,7%. Hotel services over the same period became more expensive by an average of 0,4%. Prices for recreation center services remained at the level of November 2024. The range of the annual CPI for goods and services of section XI was between 110,3% (other canteens, cafeterias and snack bars) and 118,9% (hotel services).

The average price level for insurance services in December of this year did not change either over the month or relative to December 2023. Financial services increased in price by only 0,3%during December 2024. The upper limit of the annual CPI for financial services in December 2024 reached 104,2% (money transfer fees), the lower limit was 100,1% (microfinance organizations and pawnshop services).

The upper limit of the short-term CPI for goods and services in Section XIII in December 2024 reached 103,3% (wedding rings made of precious metals). This indicator for hairdressing services in men’s and women’s salons was within 100,7-101,4%, for photocopying services it was 103,0%. The minimum annual CPI in Section XIII for December 2024 was recorded at 101,3% (shaving foam, cream, gel), the maximum – 126,8% (wedding rings made of precious metals).

The most significant contribution to the change in the consolidated CPI for the month in December 2024 was made by price changes for food products and non-alcoholic beverages. Due to the increase in prices in this section, the consolidated indicator for the month added 0,76 p.p. percentage points. Their share of the impact of such an increase accounted for over 73% of the total increase. The contribution of other sections was less significant.

Housing services, water, electricity, gas and other types of fuel remain the section that had the greatest impact on the growth of the consolidated CPI for the period since the beginning of the current year. Due to the growth of prices in this section, the consolidated indicator by December 2023 became higher by 4,57 p.p. Price changes in the healthcare and transport sectors also made a significant contribution to the growth (total contribution +2,20 p.p.).