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Finance 01/04/2021 Goods and services in the consumer market in Uzbekistan increased on average by 0.8%
Goods and services in the consumer market in Uzbekistan increased on average by 0.8%

Tashkent, Uzbekistan (UzDaily.com) -- In March 2021, goods and services in the consumer market in Uzbekistan increased on average by 0.8%, the State Statistics Committee of Uzbekistan said.

Since the beginning of this year, their prices have increased by 2.5% with an average monthly value of 0.8%. In annual terms, the CPI growth reached 10.9%.

The short-term consolidated CPI in March 2021 was 0.5 points and 0.4 points lower than in March 2020 and 2019, respectively. The consolidated CPI in annual terms (to the corresponding month of the previous year) for March 2021 was 2.7 points lower than in the same periods in 2020 and 2019. This indicator for January-March 2021 (compared to December of the previous year) was 0.3 points lower than the same indicator for March last year, and 1.8 points lower than in March 2019.

As for the structure of growth in the short-term consolidated CPI for March 2021, due to the growth in prices for food products, it increased by 0.52 percentage points. The increase in prices for nonfood products added 0.22 percentage points to the consolidated CPI, and due to the growth in prices and tariffs for services, the consolidated indicator increased by another 0.10 percentage points. Thus, the share of the impact of food products accounted for 61.6%, nonfood products - 26.5%, paid services to the population - 11.9% of the total impact of rising prices for goods and services.

In the structure of the consolidated CPI in annual terms for March 2021, the leadership continues to be held by food products, the growth of prices for which increased this indicator by 5.9 percentage points. (about 54.1% of the total impact of goods and services). The dominance of food inflation was also characteristic of the annual rate in March 2020 and 2019.

The share of the impact of rising prices for food products in the total increase in the consolidated CPI for the first quarter of this year amounted to 51.6% of goods. For non-food products, this indicator reached 23.6%, services - 24.8%.

The CPI growth for food products in March this year amounted to 1.2% per month, which is 0.7 and 0.3 points lower than in March 2020 and 2019.

The growth of the annual CPI in this group in March 2021 was at the level of 13.9%. This is 2.5 points lower than last year’s figure and 1.4 points lower than in March 2019.

In January-March 2021, food prices increased by 3.1%, which is 1.2 points lower than in the corresponding period of 2020, and 3.3 points lower than in January-March 2019.\ The increase in the CPI for non-food products in March this year amounted to 0.6% over the month. In March last year, this figure was 0.3 points, and in March 2019 - 0.2 points higher than in March this year. The growth in the annual CPI in this group in March 2021 was 8.8%, which is 1.2 points lower than the indicator for the same period last year, and 1.6 points lower than in March 2019.

Relative to December 2020, non-food products became more expensive by 1.7%, which is comparable to the increase in prices for this group in January-March 2020, and 1.1 points lower than in the first quarter of 2019.

In March 2021, services rose in price by 0.4% over a month. This is 0.4 points lower than in March last year and 0.8 points lower than in March 2019. The annual CPI in this group in March 2021 was 108.3%, against 114.1% in March 2020 and 115.7% in March 2019.

During the first quarter of 2021, services became more expensive by 2.7%, which is 1.2 and 0.2 points higher than the increase in prices for this group in JanuaryMarch 2020 and 2019, respectively.

Among foodstuffs and non-alcoholic beverages, the top three in terms of price increases in March of this year included vegetables, fruit tubers, plantains and legumes (4.7%), fruits and nuts (2.6%), oil and fats (1.4 %).

Among the main groups of food products and non-alcoholic beverages, the leadership in price growth for March 2021 belongs to fruits and vegetables. Fruits and nuts became more expensive over this period by 7.6%, vegetables, tubers, plantains and legumes - by 8.0% In annual terms, fat and oil (29.8%), dairy (17.0%) and meat (16.2%) products.

In March 2021, among the main food products (excluding fruit and vegetable products), sunflower oil (2.6%), poultry meat (within 1.4-1.5%), refined sugar and milk (1.4%), granulated sugar (1.3%) rose the most significantly over the month.

A decrease in prices for the month was recorded for eggs (-1.6%), frozen fish and long-grain rice (-0.4%). In relation to March 2020, the leading positions in price growth belong to buckwheat (1.5 times), sunflower oil (1.4 times), cottonseed oil, eggs and sand sugar (1.3 times), as well as sugar - refined (1.2 times).

Among fruit and vegetable products, both for the month and since the beginning of the year, tomatoes have risen more than others (by 18.1% and 26.0%, respectively). In annual terms, lemons continue to hold the lead in price growth (1.8 times).

The influence of seasonality continues to be one of the main inflationary factors. Thus, due to the rise in prices for fruits and vegetables, the consolidated CPI for the month increased by 0.32 percentage points. (about 38.1% of the total increase in the price index and 64% of the total contribution of food and non-alcoholic beverages).

A significant contribution was also made by the increase in prices for meat (0.06 p.p.) and fatand-oil (0.04 p.p.) products

The most significant contribution to the growth of the consolidated CPI for January-March 2021 from the main groups of food and non-alcoholic beverages was made by price changes for fruit and vegetable products. In total, due to the growth in prices for goods in this group, the consolidated CPI since the beginning of the year has increased by 0.68 percentage points, which is over 27% of the total impact of goods and services. A significant contribution was also made by the increase in prices for meat (0.18 p.p.) and fat-and-oil (0.13 p.p.) products.

As for the contribution of price changes in food and non-alcoholic beverages groups to the growth of the consolidated CPI in annual terms, the top three include meat products (1.48 p.p.), cereals and cereals (1.00 p.p.), as well as fat and oil products (0.88 p.p.).

Alcoholic products in March 2021 rose in price by 0.9% over the month (2.6% since the beginning of the year), tobacco products - by an average of 0.8% (5.9%). By the level of March 2020, cigarettes became more expensive by 13.4%, alcohol - by 9.0%.

In March 2021, in a number of regions, the actual rent for housing increased, as a result of which the monthly CPI growth for this type of service averaged 0.3% in the republic. The services of locksmiths, plumbers, electricians and painters, as well as materials for the maintenance and repair of housing, increased on average by 1.1%. Against this background, the stability of tariffs for water and electricity services has been maintained. Since the beginning of the year, materials for housing maintenance and repair have risen in price by 2.6% (12.4% compared to March 2020), housing maintenance and repair services - by 2.1% (16.1%), water supply and sewerage increased 1.6 times (1.9 times), service in apartment buildings - by 1.4% (2.3%), waste collection and disposal - by 0.7% (2.8%).

Of the goods and services in this section, in March of this year, the leaders in terms of price increases for the month are the services of washing and cleaning carpets and rugs (2.6%). The top three in terms of price growth in this section also included washing powder (2.2%) and machines for washing and drying clothes (1.5%). The leading position in terms of price growth in January-March 2021 belongs to services for disinfection and destruction of pests (12.4%), in annual terms - services for washing and cleaning carpets and rugs (20.9%).

Of the main types of goods and services monitored in the healthcare sector in March 2021, prices increased most significantly over the month for medicines (1.4%), medical diagnostic products (1.2%), syringes and dressings, as well as dental services (0.7%). Medical masks, gloves, outpatient treatment and rehabilitation services, diagnostic imaging services and medical laboratories rose 0.6% over the month. Since the beginning of the year, more significant growth in prices was noted for inpatient treatment services, as well as for diagnostic imaging and medical laboratories (4.5%), and in annual terms - for diagnostic imaging and medical laboratories (14.9%).

In March of this year, the CPI in the "Transport" section was largely influenced by the rise in gasoline prices (3.5%), the increase in the cost of air passenger transportation by air internationally (4.1%), as well as the cost of travel by road (0.4%). A restraining factor was the decrease in prices for gas fuel for cars in a number of regions (on average in the republic by 2.0%). In January-March 2021, the most pronounced growth in prices was for gasoline (8.5%), and in annual terms - for air passenger transport services (1.3 times).

In March of this year, in the section "Information and Communication", the most significant increase in prices for the month was noted for services for the repair of information and communication equipment (2.1%), as well as equipment for receiving, recording and reproducing sound and images (1.6%). In general, in the first quarter of 2021, the cost of services for the repair of information and communication equipment (3.7%), complex telecommunications services (3.6%), as well as prices for equipment for receiving, recording and reproducing sound and images ( 3.3%).

In annual terms, by a significant margin, the leader in price growth belongs to services for the repair of information and communication equipment (16.8%).

In March of the current year, the main increase in prices in the section “Recreation, Sports and Culture” was recorded for the services of cinemas (3.2%), as well as for horticultural products (2.2%). In JanuaryMarch, the highest rise in prices was registered for newspapers and periodicals (14.2%). In annual terms, services for renting textbooks became more expensive than others (36.0%), as well as services for museums (21.3%, including in Tashkent by 1.6 times, in the Andijan region – by 25.0 %).

In March 2021, the prices for the services of nongovernmental preschool educational organizations in the republic increased by 1.1% on average, including in Andijan region - by 7.1%, in Samarkand region - by 4.5%. In addition, the cost of tutoring services per month increased by 0.3%, training in language and similar courses - by 0.6%. Since the beginning of the year, training in foreign language courses and similar courses, as well as the services of tutors have become more expensive by 2.5%, services of private preschool educational organizations - by 1.4%. The leading position in terms of price growth in annual terms continues to be held by the services of state preschool educational organizations (15.2%).

The leader in price growth both in JanuaryMarch 2021 and in annual terms is the services of recreation centers, which, respectively, have become more expensive by 17.3% and 24.5%.

In March 2021, the cost of food and beverage services increased by 0.9% on average. The range of price increases ranged from 0.5% (canteens and cafeterias at universities and schools) to 1.2% (other canteens, cafeterias and snack bars). During the same period, hotel services became more expensive by 0.9%.

The prices for services provided by recreation centers in the republic increased by 0.2% on average.

The cost of the observed services for the population in the field of insurance did not undergo significant changes both throughout 2020 and in the first quarter of 2021. The price situation in the sphere of services of banking institutions during March of this year was also stable, since the beginning of the year they have risen in price by 2.6%, and in annual terms - by 1.1%. Fees for remittances in March 2021 decreased by 0.2%, due to the impact of the depreciation of the US dollar against the national currency. Since the beginning of the year, this type of service has risen in price by 0.5%, compared to March 2020 - by 10.1%. Prices for services for transferring funds through electronic payment systems during the first quarter of 2021 were stable, while the price level for them in March 2021, compared to March 2020, increased by 18.9%.

Among household goods and services, for the third month in a row, hairdressing services are in the lead in terms of price increases for the month (2.0%). Services of baths and showers in March 2021 rose by 1.2%, while the rise in prices for other types of household goods and services did not exceed one percent. Among personal items, the most noticeable increase in prices was for jewelry and wristwatches (by 1.0% on average). Among other services, ritual services rose in price more than others in March (on average in the republic by 8.1%).

In general, in January-March 2021, the leading positions in price growth belong to ritual services (9.6%) and legal services (9.5%), and in annual terms - services for photocopying documents (22.0%) and hairdressing salons (21.2%).

In the structure of the contribution to the growth of the consolidated CPI for the month, the predominant share belongs to food products and non-alcoholic beverages (59.5% of the total contribution). The share of the impact of price changes in household items, household appliances and routine maintenance of housing, as well as goods and services in the health care sector accounted for 7.1% of the total impact.

Leadership in terms of contribution to the growth of the consolidated CPI for JanuaryMarch 2021 belongs to food products and nonalcoholic beverages, due to the rise in prices for which the consolidated CPI increased by 1.23 percentage points by December 2020 with an overall increase in the aggregate indicator by 2.5 percentage points.

In the structure of the consolidated CPI for March 2021 by December 2020, the most significant share of the contribution falls on food and non-alcoholic beverages (49.2% of the total impact of goods and services). Further, in decreasing order of influence, there are housing services, water, electricity, gas and other types of fuel (12.8%). The third place in terms of the share of contribution was shared by services in the field of transport and healthcare (6.8% each).

The structure of the consolidated CPI in March 2021 to March 2020 is also characterized by the dominance of food inflation. The impact of rising prices for food and non-alcoholic beverages accounts for over half of the total contribution of all goods and services.

 

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