Tashkent, Uzbekistan (UzDaily.com) — In September 2024, the consolidated Consumer Price Index (CPI) for the month was 1.2%. For January-September 2024, the consolidated CPI reached 6.8%. This was reported by the Statistics Agency of Uzbekistan.

In year-on-year terms (as of September 2023), this figure was recorded at 10.5%.

In September 2024, the CPI for goods for the month was 1.2%, while compared to December 2023, it was 1.6%.

In annual terms, this indicator stood at 5.0%, which is 4.5 points lower than the corresponding figure for September 2023.

The short-term CPI for services in September 2024 was 1.5%, which is 1.1 points higher than in the previous month and 0.9 points higher than in September of the previous year. The CPI for January-September 2024 reached 24.0%, compared to 28.7% in September 2023.

The short-term CPI for food products in September 2024 was 1.4%. For non-food items, it reached 0.8%, while paid services for the population amounted to 1.5%.

The CPI for September 2024 for food products was recorded at 98.6%, for non-food items at 105.5%, and for services at 124.0%.

In annual terms, the CPI for food products in September 2024 was 102.4%, for non-food items it was 108.4%, and for services it was 128.7%.

Price changes in fruit and vegetable products served as a restraining factor for the CPI of food products. In particular, excluding fluctuations in prices for fruit and vegetables, the CPI for food products for the month was 0.1 points lower, 5.5 points lower for January-September, and 3.3 points higher in annual terms compared to the index that includes changes in prices for fruit and vegetables.

The diminishing influence of price fluctuations on fruit and vegetable products for the consolidated CPI was most evident in its level compared to December 2023 (106.8% vs. 109.7%).

In September of the current year, food products had the most significant impact on the change in the short-term consolidated CPI. According to calculations, the contribution of price changes in food products to the growth of the consolidated CPI for the month reached 0.63 percentage points (p.p.), or 51.2% of the total index increase.

At the same time, services continued to dominate the structure of the contribution to the growth of the consolidated CPI, both compared to December and September of the previous year.

In September 2024, the range of the short-term CPI by section was between 100.10% (Section VIII. “Information and Communication”) and 107.6% (Section X. “Educational Services”).

The short-term CPI was lower than in September of the previous year in sections I. “Food Products and Non-Alcoholic Beverages,” III. “Clothing and Footwear,” V. “Household Items, Home Appliances, and Current Housing Maintenance,” VII. “Transport,” VIII. “Information and Communication,” XII. “Insurance and Financial Services,” and XIII. “Household Goods and Services, Various Goods and Services.”

In the remaining sections, the short-term CPI for September 2024 was higher than the corresponding figure for September of the previous year.

The CPI range for January-September 2024 by section was between 98.1% (Section I. “Food Products and Non-Alcoholic Beverages”) and 136.7% (Section IV. “Housing Services, Water, Electricity, Gas, and Other Fuels”). Besides Section I, a decrease in prices over the first nine months of the current year was also noted in Section VIII. “Information and Communication,” where the CPI as of December 2023 amounted to 99.0%.

In September 2024, the annual CPI range by section was between 98.9% (Section VIII. “Information and Communication”) and 140.4% (Section IV. “Housing Services, Water, Electricity, Gas, and Other Fuels”).

The annual CPI for September 2024 was significantly lower than in September 2023 in sections I. “Food Products and Non-Alcoholic Beverages” (101.8% vs. 110.6%) and XI. “Restaurants and Hotel Services” (114.8% vs. 121.9%).

The range of short-term CPI for September 2024 within groupings of Section I was between 97.1% (“Fruits and Nuts”) and 108.2% (“Vegetables, Tubers, and Legumes”).

The increase in prices for grain crops and cereal products for the month was significantly lower than in September 2023 (100.5% vs. 105.0%). Conversely, vegetables, tubers, and legumes increased in price more than in September of the previous year.

The short-term CPI for Section I (101.4%) was recorded only in the groups “Meat Products” (102.3%) and “Vegetables, Tubers, and Legumes” (108.2%) above the average value.

The CPI values for key groups within Section I. “Food Products and Non-Alcoholic Beverages” for September 2024 ranged from 79.2% (“Fruits and Nuts”) to 108.7% (“Meat Products”).

The average price level for oils and fats, dairy products, and fruit and vegetable products in September 2024 was lower than in December 2023.

With the exception of the groups “Meat Products,” “Oils and Fats,” “Ready-to-Eat Food and Other Food Products,” and “Non-Alcoholic Beverages,” the CPI for January-September 2024 was lower than the corresponding figure for the same period in 2023.

In September of the current year, the annual CPI for groups in Section I ranged from 88.6% (“Vegetables, Tubers, and Legumes”) to 109.8% (“Non-Alcoholic Beverages”).

The average price level in the groups “Milk, Other Dairy Products and Eggs,” “Oils and Fats,” “Fruits and Nuts,” “Vegetables, Tubers, and Legumes” in September of the current year was lower than in the corresponding month of 2023.

With the exception of the groups “Oils and Fats” and “Non-Alcoholic Beverages,” the annual CPI in September 2024 was lower than the corresponding figure for September 2023.

In September 2024, price decreases in Section I were recorded for products such as buckwheat (-1.3%), granulated sugar and refined sugar (by 0.2-0.7%), and frozen fish (-0.5%).

The main price increases for the month in the indicated section were noted for food products such as vegetable oil (by 2.1-3.2%), beef and lamb (by 2.8-3.1%), and eggs (+3.0%).

The short-term CPI range for fruit and vegetable products in September 2024 was between 77.5% (grapes) and 124.0% (watermelons). These fluctuations were influenced by seasonal factors and the cyclicality of the market saturation with new crop products.

Compared to December 2023, the prices of such products as cucumbers, eggplants, tomatoes, watermelons, and bell peppers decreased significantly. In contrast, carrots, beets, and potatoes increased in price by 14.0-29.0% during this period.

The CPI fluctuations for September 2024 in annual terms ranged from 56.5% (cabbage) to 141.9% (garlic). Compared to September 2023, cabbage, melons, carrots, onions, and cucumbers saw the most significant price decreases.

In September 2024, seasonal price decreases in fruits and nuts acted as a restraining factor, which resulted in the consolidated monthly figure being lower by 0.16 p.p.

The contribution to the growth of the short-term consolidated CPI among products in Section I. “Food Products and Non-Alcoholic Beverages” from vegetables, tubers, and grains reached +0.38 p.p. The increase in prices for meat products led to an additional increase in the consolidated indicator of +0.21 p.p.

Among the goods in Section I, the downward effect on the consolidated CPI for September 2024 compared to December 2023 was caused by price changes for fruit and vegetable products, as well as for milk, other dairy products, and eggs (totaling -2.14 p.p.). Price increases for meat products, non-alcoholic beverages, sugar, confectionery, desserts, cereals, and grain products collectively raised the consolidated CPI by 1.22 p.p. The influence of other groups was less significant.

The most substantial contribution to the growth of the consolidated CPI for September 2024 in annual terms came from price changes for meat products, sugar, confectionery, desserts, and non-alcoholic beverages (totaling +1.3 p.p.). The diminishing effect came from price decreases in the groups “Milk, Dairy Products and Eggs,” “Oils and Fats,” “Fruits and Nuts,” “Vegetables, Tubers, and Legumes,” which reduced the consolidated CPI compared to September 2023 by 0.75 p.p.

In September 2024, the fluctuations in the short-term CPI in Section II. “Alcoholic Beverages and Tobacco Products” ranged from 100.7% (wine) to 101.4%

The range of short-term CPI for September 2024 in Section III. "Clothing and Footwear" was between 100.0% (thread) and 101.7% (socks, tights, and hosiery for boys).

Considering the weight of the groups of goods and services included in Section III, the most significant impact on the CPI growth for this section in the month, as in August 2024, was due to price changes for outerwear, boots, shoes, and other footwear.

In September 2024, an increase in housing rent was recorded. On average, the cost across the republic rose by 5.5%. The short-term CPI for hot water supply and heating services was influenced by tariff increases in the Ferghana region (15.0% and 14.9%, respectively).

The fee for household waste collection increased in the Kashkadarya region by an average of 16.4% since September this year, resulting in a CPI of 100.7% for this service across the republic.

The short-term CPI for September 2024 in Section V. "Household Items, Household Appliances, and Current Housing Maintenance" ranged from 99.9% (stainless steel cutlery) to 102.1% (glassware).

Taking into account the weight of the groups, the most significant impact on CPI growth for Section V in the month came from price changes in furniture, household items, and pile carpets, as well as textile products.

In September 2024, the upper limit of the short-term CPI for goods and services in Section VI reached 102.1% (anti-inflammatory medicines). The indicator for other observed types of medicines ranged from 101.2% to 101.9%. The CPI for dental services reached 101.4%, while for medical masks and gloves, it was 101.2%. For other goods and services, this indicator was below 101.0%.

In the structure of the short-term CPI growth for Section VI, the influence of price changes for medicines and dental services predominates.

In September 2024, an increase in prices for automotive gas fuel was recorded. The price of propane at gas stations increased in all regions by 11.5% to 18.4%. Methane became slightly more expensive (on average across the republic, only by 0.5%).

Gasoline prices rose by 0.8% over the month, with the short-term CPI range in a regional breakdown between 100.2% and 102.4%. The CPI for August 2024 for maintenance and repair services for vehicles reached 102.9%.

The average level of prices and tariffs for the population in the information and communication sector increased slightly during September 2024. The short-term CPI for the month in Section VIII was 100.1%. This section remains the only one where the CPI for September of this year fell below 100.0% year-on-year.

The short-term CPI for September 2024 for information and communication equipment repair services reached 102.0%. This indicator for other goods and services included in Section VIII did not exceed 101.0%.

In September 2024, the range of short-term CPI for Section IX was from 99.6% (A4 paper) to 108.4% (services for cultural and recreational parks).

Over the month, the average ticket prices for theaters across the republic increased by 3.6%, while the cost of printing invitations and postcards rose by 2.4%, and tourist trips became 1.5% more expensive. Other goods and services saw less significant price increases.

Starting from September 2024, the cost of education on a paid contract basis across all fields in public universities of Uzbekistan was raised. The short-term CPI for this type of service was 115.1%. Tuition fees in private universities increased by 0.5% over the month, while tutoring services became 4.6% more expensive, and educational courses saw a price increase of 3.8%. The services of private kindergartens rose by 0.8% over the month.

In September of this year, an increase in prices for food and beverage services was recorded in all regions. The short-term CPI averaged between 102.2% and 102.4%. Hotel services, during the same period, became 1.1% more expensive on average.

According to calculations that consider the share of household consumption expenses, the primary growth in the short-term CPI for Section XI was driven by the increase in the cost of food in cafes and canteens.

The average level of prices for insurance services remained unchanged both over the month and compared to December and September 2023. Financial services increased by 0.2% throughout September 2024. Meanwhile, banking services became cheaper by 0.4%, while the fees for money transfers rose by 0.9%.

The short-term CPI range for September 2024 for goods and services in Section XIII was from 100.0% (legal services) to 102.8% (wedding rings).

The short-term CPI for women’s and men’s hairdressing services in September of this year was 101.5% and 101.3%, respectively. Price increases for other goods and services in Section XIII were less significant.

The most significant contribution to the overall CPI change for the month came from price changes in food and non-alcoholic beverages, as well as in the education sector. The combined contribution of these sections increased the overall CPI for September 2024 by 0.83 percentage points, accounting for 67.5% of the total growth.

Housing services, water, electricity, gas, and other types of fuel remain the section that has had the most substantial impact on the overall CPI growth since the beginning of the current year. Significant contributions also came from price changes in the healthcare and transportation sectors. The decrease in the average price level of food and non-alcoholic beverages acted as a restraining factor, allowing the overall CPI to be lower than in December 2023 by 0.79 percentage points.