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Finance 02/12/2019 Consumer prices in Uzbekistan increases by 1.7% in November
Consumer prices in Uzbekistan increases by 1.7% in November

Tashkent, Uzbekistan (UzDaily.com) - In November 2019, the growth in the average level of consumer prices in Uzbekistan made up 1.7%. This was reported by the State Statistics Committee of Uzbekistan.

Since the beginning of 2019, goods and services in the consumer market have become 13.3% more expensive. Relative to November 2018, the average price level in the consumer sector of the republic increased by 15.6%.

According to calculations, the average monthly increase in the composite consumer price index for January-November 2019 was 1.1%, for January-November 2018 - 1.0%. With this in mind, the growth of the composite consumer price index in November 2019 was 0.6 points higher than the average monthly figure for January-November of the current year. The periods of peak values of monthly growth and decrease in prices for January-November 2019 were in August (an increase of 2.9%) and June (a decrease of 0.5%). Thus, the increase in the consumer price index in November of this year is 1.2 points lower than the maximum and 2.2 points higher than the minimum monthly indicator during January-November 2019.

A monthly comparison of short-term composite consumer price indices for the eleven months of 2019 and 2018 revealed that the maximum gap in indicators also occurred in August (2.9% in 2019 against 0.3% in 2018), and in November the difference was 0.6 points (2.3% in November 2019 against 1.7% in November 2018).

A comparison of composite consumer price indices by December of the previous year showed that in November 2019 and 2018, the gap between the indicators was 1.3 points. At the same time, the minimum difference was recorded in April (5.3% versus 5.8%, or 0.5 points). The most significant difference was noted in August (8.2% versus 6.2%, or 2.0 points).

The annual consolidated consumer price index in November of the current year decreased by 0.7 points compared to the same indicator for the previous month. At the same time, the maximum value of this indicator for January-November 2019 was noted in August (16.5%), and the minimum - in January (13.0%). Compared with November 2018, the consumer price index in annual terms for November of this year decreased by 0.9 points (15.6% versus 16.5%).

The peak values of the composite consumer price index in annual terms over the past 23 months remained the same: this indicator reached its minimum in January 2019 (13.0%), and the maximum in January 2018 (20.1%). As for price changes by enlarged groups, according to the results of November 2019, food products for the month increased by 3.0%, while non-food products added only 0.8%, and services - 0.6% .

Relative to the end of last year, food products added 14.8%, non-food products - 10.4%, services - 14.9%.

In November of this year, in relation to the corresponding month of the last year, food products became more expensive by 18.4%, non-food products - by 11.8%, services - by 16.3%.

As noted above, the maximum price increase for goods and services for the month during January-November 2019 was recorded in August (2.9%). The information below allows us to conclude that this is largely due to an increase in tariffs for services to the population (by 5.6%). At the same time, the growth rates of prices for food and non-food products in August were also at a relatively high level (monthly growth by 2.3% and 2.1%).

The above graph also illustrates that the consumer price index reached its minimum in June this year due to a decrease in the average level of food prices (by 1.8% per month), and a relatively low increase in prices for non-food products and services (correspondingly by 0.6 % and 0.7%). As for the long-term consumer price index calculated by December 2017, in November of the current year it reached 31.9% for food products, 24.1% for non-food products, and 33.0% for services. The overall indicator for this period increased by 29.4%.

According to the calculation results, the average monthly increase in the consumer price index from January 2018 to November 2019 for food products amounted to 1.2%, non-food products - 0.9%, services - 1.2%.

Assessment of the contribution of price changes, taking into account the specific gravity of each enlarged group, showed that in November 2019, the influence of a rise in food prices was predominant in the growth of the composite consumer price index for the month - 1.3 percentage points (hereinafter - percentage points) out of 1, 7 pp The increase in prices for non-food products added an additional 0.3 percentage points to the monthly consolidated indicator, while the growth of tariffs for services increased it by another 0.1 percentage points

The calculation of specific indicators of the impact of price increases of the main groups of goods and services on the growth of the consolidated consumer price index for the month showed that in November 2019, food products accounted for 76.4%, non-food products - 16.5%, services - 7.1% from general influence.

As for the composite consumer price index as a whole for January-November of the current year, its growth is mainly related to the growth of prices for goods (10.1 percentage points). Of these, the impact of rising food prices was 6.5 percentage points, and for non-food products - 3.6 percentage points. Due to the growth of tariffs for services, the composite indicator for the period from the beginning of the year increased by 3.2 percentage points

During January-November 2019, the impact of rising food prices on the growth of the composite consumer price index by December 2018 was predominant in all months, excluding July and August. In July and August, the ratio of the contribution of food and non-food products was either in equal proportions (July), or with a slight advantage in the direction of food products (August). In November, the impact of rising prices for non-food products and tariffs for services was close (3.6 percentage points and 3.2 percentage points) and lagged 2.9 and 3.3 points, respectively, for food products.

In specific indicators, the influence of food products in November 2019 accounted for 48.7% (41.0% in November 2018), non-food products - 27.1% (versus 32.6%), services - 24.2% (against 26.4%).

An analysis of the structure of the composite consumer price index in annual terms (November 2019 to November 2018) showed the following. The contribution of rising food prices to the growth of the composite indicator for this period amounted to 8.0 percentage points. Due to higher prices for non-food products, the aggregate indicator additionally increased by 4.1 percentage points (pp). Services also added 3.5 pp to it. In specific indicators, the ratio of the impact of rising prices for food, non-food goods and services, respectively, amounted to 51.3%, 26.3% and 22.4%.

In November, foodstuffs rose in price by 3.0% over the month, which is 0.2 points more than the same period last month. This increased the composite consumer price index by 1.3 percentage points. Since the beginning of 2019, prices for goods of this group have increased on average by 14.8%, and the average monthly increase in the price index for January-November of this year amounted to 1.3%.

In annual terms (November 2019 compared to November 2018), food products became 18.4% more expensive.

A comparison of consumer price indices for food products for each month of January-November 2019 and 2018 showed that the most significant gap in indicators was recorded in August (0.3% versus 2.3%).

In November 2019, the increase in food prices was slightly higher than in the corresponding month last year (3.0% versus 2.7%).

Despite the fact that the difference in the value of the annual consumer price index for food products in January 2019 and 2018 was maximum (14.1% versus 26.8%, or -12.7 points, respectively), by September this difference had practically disappeared ( equal index values). Starting from October, the deviation began to increase in the direction of exceeding the indicator for the current year (a difference of 0.6 points in October and 1.1 points in November).

Of the main groups of food products in November 2019, prices for eggs (12.5%), fruits and vegetables (6.5%), bakery products (3.6%), as well as alcoholic beverages (3.4 %) increased.

In general, in January-November 2019, eggs (23.2%), bakery products (22.8%), meat, poultry and fish (22.4%), as well as catering (21.2%) rose most significantly.

Of the bakery products, in November the prices for bread made from wheat flour of the highest grade (8.3%), wheat flour (5.8%), and bread from wheat flour of the first grade (4.7%) increased most significantly. At the same time, a seasonal price decrease for rice of a new crop (by 2.3% per month) served as a constraining factor for price growth in this group of goods.

In general, in January-November of the current year, bread products became more expensive by 22.8%, including bread from wheat flour of the first grade - by 40.3%, wheat flour - by 27.7%, bread from wheat flour of the highest grade - by 26.9%, rice - 7.4%.

In November of this year, meat, poultry and fish rose by an average of 2.0%.

During the month, poultry meat (except for chicken legs) increased by 6.6%, chicken drumstick and chicken legs - by 3.7%, lamb - by 2.3%, beef (except boneless meat) - by 1.8%, boneless beef - by 1.0%, minced meat - by 1.3%. Live and chilled fish, on the contrary, became cheaper by 0.4%.

Since the beginning of this year, these products have risen in price by an average of 22.4%. Most significantly during the indicated period, prices increased for beef (except boneless meat) - by 25.9% and mutton - by 24.0%. Poultry meat (except for chicken legs) became 14.6% more expensive, chicken drumstick and chicken legs - 10.8%, live and chilled fish - 16.2%.

The increase in prices for milk and dairy products in November this year was 0.3 points higher than in the corresponding month last year (1.7% versus 1.4%).

Above the average group value for the month there was an increase in milk prices (an increase in prices by 3.0%), cottage cheese (2.2%), kefir, yogurt and similar products (2.0%).

In general, over the past eleven months of 2019, dairy products added 16.0% in price, including kefir, yogurt - by 21.3%, milk - by 21.0%, cream - by 18.8%, cottage cheese - by 15.9%, Suzma - by 15.3%.

The peak price growth for a month for eggs during January-November of the current year was recorded in November (12.5%).

The dynamics of short-term egg price indices during January-November this year was subject to fluctuations. So, after rising prices for them in January (by 1.3%), from February to July, prices decreased monthly from 0.2% (February) to 3.5% (July), after which they began to rise again (in August - by 3.5%, September - by 8.2%, October - by 7.3% and November - by 12.5%).

Such price fluctuations are also reflected in the level of egg prices relative to the end of last year. If in the first two months of 2019, prices for this product were higher than in December 2018, then, from March to August, the situation changed dramatically (depending on the month, the price level was lower than in December by 0.1% - 8 ,nine%). Since September, egg prices have again become higher than in December 2018, and this trend continued until November. The lowest price level compared to the end of 2018 was recorded in July (by 8.9%), the highest price level fell in November (23.2%).

Fruits and vegetables in November for the month rose by 6.5%. More than others, prices for cucumbers increased (1.7 times), tomatoes (1.5 times), garlic (28.2%), apples (17.3%), watermelons (13.8%), grapes (13 , 3%), melons (12.0%), potatoes (4.8%). Against this background, there was a decrease in prices for carrots (by 21.0%), cabbage (by 10.5%), onions (by 3.9%), citrus fruits (by 1.2%).

In general, in January-November 2019, fruits, vegetables and potatoes became more expensive by 0.8%. Most significantly, prices for garlic (2.2 times), onions (45.2%), apples (29.9%) increased, cucumbers and tomatoes fell as much as possible (60.3% and 45.7%).

Sugar, tea and other food products have become more expensive by 1.0% per month. Sugar went up by 1.6%, coffee and tea - by 0.9%, confectionery - by an average of 0.8%, other food products (salt, yeast, etc.) - by 0.6%. At the same time, the general trend of change for this group of goods during January-November 2019 was directed upward (monthly prices increased in the range from 0.1% to 1.9%).

In November 2019 and 2018, the gap in consumer price indices for sugar, tea and other food products compared to December of the previous year was significant (10.6% versus 0.5%). Sugar for eleven months of this year has become more expensive by 16.2%, confectionery products - by 11.0%, coffee and tea - by 4.8%, other food products - by 5.4%.

Oil and fat products in November this year, on the contrary, rose less pronounced than in the same month of 2018. (0.8% versus 2.9%). Over the past month, butter has become more expensive by 2.7%, edible fats - by 1.3%, margarine - by 0.8%, sunflower oil - by 0.7%, cottonseed - by 0.2%.

Compared to the end of 2018, in November 2019, the increase in prices for butter reached 17.4%, margarine - 12.0%, edible fats - 11.8%, sunflower and cottonseed oils - 5.3% and 3.9%.

Prices in public catering grew monthly in the range from 0.7 - 3.4%. In November, meals outside the home for the month became more expensive by 2.4%. Relative to December 2018, the price increase for this group amounted to 21.2%. Since the beginning of the year, non-alcoholic beverages have risen in price by 13.1% (including in November - by 0.2%), alcoholic beverages - by 15.1% (in November - by 3.4%).

In annual terms, prices for bread products increased more than others (25.7%). Next, in descending order are meat, poultry and fish (24.0%), eggs (23.4%), dairy products (18.6%), alcoholic drinks (17.0%) and soft drinks (13.4%) ), sugar, tea and other food products (12.8%), fruits, vegetables and potatoes (10.8%), as well as oil and fat products (9.3%). Catering, compared with November last year, rose by 24.9%. An analysis of the contribution of the main groups of food products to the growth of the consolidated consumer price index for the month revealed the following: the most significant inflationary effect in November was exerted by the seasonal increase in prices for fruits and vegetables (0.52 percentage points). Further, in descending order, bread products (0.29 p.p.) follow. Closing the top three in terms of the influence of meat, poultry and fish (0.21 percentage points).

Of the main groups of food products, price changes for meat, poultry and fish (2.38 percentage points) continued to hold the lead in influencing the growth of the composite consumer price index relative to December 2018 in November this year. A significant contribution was also made by the increase in prices for bakery products (1.84 pp), sugar, tea and other products (0.56 pp) and dairy products (0.54 pp).

The most significant contribution to the growth of the consolidated indicator for November 2019 to the corresponding month of the previous year was made by changes in prices for meat, poultry and fish (2.55 percentage points), as well as bakery products (2.07 percentage points).

In November 2019, non-food products on average became more expensive by 0.8%, which led to an increase in the monthly consumer price index by 0.3 percentage points. Relative to the end of 2018, the average increase in prices for goods of this group amounted to 10.4%. In annual terms, compared with November 2018, the increase in prices for non-food products amounted to 11.8%.

According to the calculation results, the average monthly increase in the consumer price index for non-food products in January-November 2019 amounted to 0.9%.

A comparison of the short-term consumer price index for non-food products in dynamics for January-November 2019 and 2018 showed the following. The maximum difference in the consumer price index for this group of goods in the compared periods of two years was 1.8 points and was observed in January (0.5% in 2019 against 2.3% in 2018) and August (102.1% against 100.3%).

In November 2019 and 2018, the gap in indicators was at the level of 0.4 points (0.8% versus 1.2%). The dynamics of consumer prices for non-food products relative to December of the previous year in the compared periods has a relatively similar upward trend. The largest gap in the indicators from January to November was noted in July (2.8 points). In the following months, the values of price indices approached, while the gap reached its minimum in October (0.2 points). It should be noted that the level of price growth in the group relative to the end of the previous year in 2019 was monthly lower than in the corresponding periods of 2018.

The general trend of convergence of indicators in the compared periods was also noted for the consumer price index for non-food products in annual terms. At the same time, in November the gap between the indicators was minimal and amounted to 1.3 points (11.8% in November 2019 compared to 13.1% in November 2018).

In November 2019, of the main observed groups of non-food products, prices for jewelry (1.8%), construction materials (1.4%), clothing (1.3%), shoes and household textiles increased most significantly in a month 2%), books, newspapers and magazines (1.0%), personal hygiene products, carpets and rugs (0.8%).

Since the beginning of the year, prices for books, newspapers and magazines (21.9%), fuel for cars (21.0%), jewelry (15.9%), and detergents and cleaners (14.6%) increased more than others. The basic household goods and electrical appliances became more expensive during this period by 12.9%, tobacco products - 12.7%, cultural goods - 12.4%, communications - 11.8%, personal hygiene products - 11.6 %

Taking into account the share of the main groups of non-food products in the structure of the set of goods and services for calculating the composite consumer price index, the most significant contribution to the growth of the composite index for November was made by the increase in prices for clothes and shoes (about 0.13 percentage points). This is followed by building materials (0.06 percentage points), medicines (0.02 percentage points), fabrics, yarn and household textiles (0.02 percentage points), jewelry, furniture and carpet products, detergents and cleaning products, personal hygiene products (0.01 percentage points each).

The most significant contribution to the growth of the composite consumer price index relative to December of the previous year was made by price changes for clothes and shoes (0.98 percentage points), as well as fuel for cars and household fuel (0.60 percentage points).

Taking into account the specific weight of the main groups of non-food products in the structure of the set of goods and services for calculating the composite consumer price index, the main contribution to the growth of the indicator in annual terms was made by an increase in the price of clothes (0.81 percentage points), fuel for cars (0, 53 pp), shoes (0.35 pp), building materials (0.29 pp), detergents and cleaning products (0.26 pp), basic household goods and electrical appliances ( 0.26 pp), personal hygiene products (0.24 pp), medicines (0.21 pp each).

In November of the current year, the increase in tariffs for paid services to the population amounted to 0.6%, which led to an increase in the monthly consumer price index by 0.1 percentage points.

Since the beginning of 2019, tariffs in this area have increased by an average of 14.9% with an average monthly growth of the consumer price index in the group by 1.3%. Compared to the corresponding month of the previous year, tariff growth amounted to 16.3%.

The dynamics of tariff changes during the January-November months of 2019 and 2018 is characterized by a steady upward trend. At the same time, in January-November 2019, the maximum monthly tariff growth was observed in August (5.6%), and in the same period of 2018 - in April (2.7%), May (2.1%) and November (3 , 3%), which is mainly associated with the introduction of higher tariffs for the main types of housing and communal services. With an average increase in tariffs for services in November this year by 0.6%, passenger transport services (1.7%), domestic services (1.1%), and cultural institutions (1.0%) rose in price. The growth of tariffs for other groups of services for the month did not exceed the average group value, and the cost of services of preschool educational institutions and in the field of sports in November this year remained at the level of the previous month.

As for the change in tariffs for paid services to the population in November 2019 compared with the end of last year, of the main groups, their most significant growth was registered for education services (21.6%), preschool educational institutions funded from the state budget (20 , 5%), housing and communal services (17.8%), domestic services (17.6%), leisure (13.1%), sports (12.7%). Passenger transport services became more expensive during this period by 12.5%, medical services - by 11.1%, cultural institutions - by 7.3%, communications - by 5.2%.

In annual terms, of the observed types of paid services to the population, the three leaders in terms of price and tariff growth were education services (22.0%), state preschool educational institutions (20.5%) and consumer services (19.8%). Relatively compared to November last year, housing and communal services (by 19.4%), passenger transport and sports services (by 14.6%), recreation (by 13.4%), medical (by 12, 6%), cultural and communication institutions (by 11.1% and 5.5%, respectively). As for the contribution to the growth of the consolidated consumer price index for the month, of the services in November of the current year, the influence of the growth of tariffs for household services increased the consolidated indicator by 0.04 percentage points, passenger transport and communication services - by 0.06 percentage points ., medical services - by 0.01 percentage points Other types of services account for a total of 0.01 percentage points

By December 2018, housing and utilities services (1.08 percentage points) continue to hold the lead in influencing the growth of the composite consumer price index.

The increase in tariffs for household services added an additional 0.62 percentage points to the composite indicator, passenger transport and communication services - 0.54 percentage points, educational services - 0.39 percentage points, medical services - 0.23 percentage points .p., pre-school education services - 0.21 percentage points.

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