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Finance 01/06/2022 In May 2022, goods and services in the consumer market become expensive by 1.0% on average
In May 2022, goods and services in the consumer market become expensive by 1.0% on average

Tashkent, Uzbekistan (UzDaily.com) -- According to the State Statistics Committee, in January-May 2022, the increase in prices in the consumer sector in Uzbekistan amounted to 5.5%, with an average monthly value of 1.1%. In annual terms (relative to May 2021), the increase in consumer prices reached 11.0%.

In May 2021, goods and services became more expensive by 0.5% on average per month, and by 0.3% in the same period in 2020. In January-May 2021, the increase in prices in the consumer sector was recorded at 4.6% with an average monthly increase of 0.9%, in January-May 2020 this indicator was slightly higher and reached 4.8% with an average monthly increase of 0.9%.

The increase in the annual CPI for May 2021 was 10.9%, while in May 2020 it was higher and reached 14.0%.

In May 2022, for the first time this year, non-food products became the leaders in terms of price and tariff growth for the month, which increased in price by 1.3% on average per month.

Food products over the same period increased in price by 1.2%, paid services - only by 0.4%.

In May 2020, a decrease in prices for food products was recorded (-0.2%), and the leaders in price growth were services, which became more expensive by 0.8% over the month.

Leadership in price growth in January-May this year is held by food products. Since the beginning of this year, they have risen in price by 7.7%. This is followed by non-food products, which have become more expensive by 4.9% over the specified period. The increase in prices for paid services to the population amounted to 2.4%.

The second position of this rating in May 2021 was occupied by services (3.9%), and in May 2020 by non-food products (3.0%).

The third line in the ranking for January-May 2021 belonged to non-food products (2.5%), for January-May 2020 - services (2.5%).

Despite the loss of leadership in price growth in the short term, food products retain their leading position in terms of price growth in annual terms. So, in May 2022, relative to May 2021, they increased in price by an average of 14.2%. Non-food products and paid services for the same period, respectively, became more expensive by 10.3% and 6.2%.

So, in May 2021, food products, relative to May 2020, rose by 14.4%, while for non-food products, the increase was 8.2%, services - 8.5%.

In May 2020, the increase in food prices in annual terms reached 18.2%. Further, in descending order, followed by services (13.0%) and non-food products (9.4%).

The increase in consumer prices for food products for the month in May 2022 was 0.7 points higher than last May and 1.4 points lower than May 2020.

The increase in consumer prices for food products in January-May 2022 was 1 point higher than in the same period in 2021, and 0.2 points higher than in January-May 2020.

The comparison showed that the short-term CPI for non-food items in May 2022 was 0.9 points higher than in May 2021 and 0.7 points higher than in May 2020.

The increase in consumer prices for non-food products in January-May 2022 was 2.4 points higher than in the corresponding period of 2021, and 1.9 points higher than in January-May 2020, becoming the highest indicator for this period over the past three years.

The annual CPI in this group for May 2022 was 2.1 points higher than in May 2021 and 0.9 points higher than the same indicator for May 2020.

A comparison of short-term CPIs for services for May of the last three years showed that in May 2022 the indicated indicator was 0.3 points lower than in May 2021 and 0.4 points lower than in May 2020.

The increase in consumer prices and tariffs for services in January-May 2022 was 1.5 points lower than in the corresponding period last year, and 0.1 points lower than in January-May 2020.

CPI for paid services in May 2022 in annual terms was 2.3 points lower than in May 2021 and 6.8 points lower than in May 2020.

In May 2022, due to rising prices for food products, the consolidated CPI for the month increased by 0.49 p.p., non-food products - by 0.44 p.p., services - by 0.10 p.p. Food products accounted for 47.6% of the total impact of observed goods and services. The share of non-food products amounted to 42.7%, services - 9.7%.

In May 2020, the decline in food prices allowed the consolidated CPI for the month to fall by 0.08 percentage points, while the increase in prices and tariffs for non-food products and services increased it by 0.37 percentage points.

Due to the growth in food prices, the consolidated CPI for May 2022 compared to December 2021 increased by 3.27 p.p., non-food products - by 1.69 p.p., services - by 0.55 p.p. Thus, the share of food products accounted for 59.3%, non-food products - 30.7%, services - 10.0% of the total impact of observed goods and services.

The structure of the annual consolidated CPI for May 2022 also clearly showed the dominance of food inflation. Due to the increase in food prices, the consolidated CPI in annual terms for May 2022 increased by 5.98 percentage points, which is 54.5% of the total increase.

Non-food products accounted for 3.56 p.p. (32.5%), services - 1.41 p.p. (12.9%).

In May 2022, the leader in monthly price growth in this section belongs to grain crops and cereal products, which on average became more expensive by 4.9%.

In addition, prices increased significantly for fruits and vegetables (3.4%), sugar, confectionery and desserts (2.6%), oil and fat products (2.3%) and soft drinks.

Fish and other seafood, as well as prepared foodstuffs and other foodstuffs (1.3% each), milk, other dairy products and eggs (1.1%) also overcame the 1% mark of price increase for the month.

A decrease in prices was noted for vegetables, tubers, plantains and legumes (-8.1%).

In terms of price increases in January-May 2022, fruit and vegetable products are in the lead. Thus, compared to the end of last year, fruits and nuts increased in price by 14.2%, vegetables, tubers, plantains and legumes - by 12.8%. In addition, grain crops and cereal products (10.9%), as well as sugar, confectionery and desserts (10.1%) have noticeably risen in price.

In May 2022, vegetables, tubers, plantains and legumes (32.0%) continue to hold the leading positions in terms of price growth in annual terms. The second line of the rating belongs to sugar, confectionery and desserts (18.6%). Closing the top three in terms of price growth in annual terms are grain crops and cereal products (16.5%).

In May 2022, fish and other seafood (13.0%), milk, other dairy products and eggs (10.9%), soft drinks (11.6%) also crossed the 10% threshold for annual price growth in May 2022.

Of the main food products (excluding fruits and vegetables), wheat flour (9.6%) and granulated sugar (4.3%) became the leaders in terms of price growth for the month in May this year. Long-grain rice, buckwheat and bread made from flour of the 1st grade over the month became more expensive by 3.0%, vegetable oil - by an average of 2.4%, milk - by 2.2%, poultry meat - within 1, 9-2.2%, beef and lamb - within 0.5-0.7%. Egg prices fell another 1.6% in May.

The leading positions in price growth in January-May 2022 belong to granulated sugar and wheat flour (by 1.2 times). The same goods are leading in terms of price growth in annual terms (increase, respectively, by 32.8% and 27.3%).

In May 2022, lemons (16.5%), onions and radishes (8.9%), bananas (8.0%) and carrots (7.2%) became the leaders in terms of price growth for the month from fruit and vegetable products.

The leading positions in terms of price reduction for the month belong to cucumbers (-42.7%), tomatoes (-31.0%), garlic (-23.5%), bell peppers, cabbage (-20.9%), eggplants (- 18.8%.

From fruit and vegetable products, onions (by 1.6 times), eggplants (by 1.4 times) and carrots (33.8%) became leaders in terms of price growth in January-May 2022.

The most notable decrease in prices for the specified period was noted for fresh cucumbers (-23.2%) and garlic (-15.6%).

The top three in terms of price growth in annual terms for May 2022 were cucumbers (by 2.1 times), cabbage (by 2.0 times) and onions (by 1.9 times).

The most significant decline in prices compared to May last year was noted for grapes (-11.8%) and bananas (-7.4%).

The most significant contribution to the growth of the short-term consolidated CPI for May 2022 was made by price changes for grain crops and cereals, due to which the consolidated CPI for the month increased by 0.40 p.p.

The increase in prices for fruits and nuts was reflected in the growth of the composite index by 0.15 percentage points.

The increase in prices for meat products led to an increase in the consolidated CPI by 0.09 percentage points.

The increase in the price of sugar, confectionery and desserts, as well as oil and fat products added another 0.07 p.p.

The contribution of other product groups included in the section was less significant and did not exceed 0.04 p.p.

The limiting factor was the decline in prices for vegetables, tubers, plantains and legumes, due to which the consolidated indicator fell by 0.37 percentage points.

The increase in prices for fruits and vegetables continues to have a significant impact on the consolidated CPI by December of the previous year. Thus, according to calculations, due to the increase in prices for fruits, nuts, vegetables, tubers, plantains and legumes, the consolidated CPI for May 2022 by December 2021 in total increased by 1.19 p.p. The share of these products accounted for over 38% of the total contribution of the goods of the section and about 21.6% of the total contribution of all observed goods and services.

A significant contribution was made by price changes for cereals and cereals (0.89 p.p.), sugar, confectionery and desserts (0.29 p.p.), oil and fat products (0.20 p.p.), meat products, as well as for milk, dairy products and eggs (0.16 p.p. each). The influence of other groups in this section was less significant and in total increased the consolidated CPI by 0.22 percentage points.

Food and Non-Alcoholic Beverages made price changes for fruit and vegetable, meat, dairy, oil and fat products, sugar, confectionery and desserts, as well as for cereals and cereals. The total contribution of the listed groups reached 5.26 p.p.

Alcoholic beverages became more expensive by 1.3% over the month, including beer - by 1.7%, vodka and wine - by 1.2%, cognac - by 0.8%.

Tobacco products rose in price by 0.7% over the month.

Compared to December 2021, alcoholic beverages increased in price by 4.2%, including vodka - by 4.9%, beer - by 3.8%, wine - for products by 3.0%, cognac - by 2.1 %. Since the beginning of 2022, tobacco products have become more expensive by 3.7%, including cigarettes - by 3.3%, other tobacco products - by 4.4%.

In annual terms, alcoholic beverages are leading in terms of price growth (10.4%), while tobacco products have become more expensive by 8.7%.

In May 2022, materials and services for the maintenance and repair of residential premises became more expensive by 1.3%. Tariffs for the main types of communal services remained at the level of the previous month.

The leaders in price growth both in January-May 2022 and in annual terms were services for the maintenance, repair and protection of residential premises (price growth, respectively, by 5.3% and 12.7%).

Goods and services in the field of healthcare In May 2022, the most significant increase in prices was recorded for dental services (2.6%).

In general, in January-May 2022, medicines (7.4%), dental services (6.6%) and services for diagnostic imaging and medical laboratories (4.7%) retain the leading positions in terms of price growth.

Propane again became the leader in terms of price and tariff growth over the month, which on average in the republic rose by 5.2%.

Passenger transport services fell in price in May by an average of 0.6%, including air transport services - by 9.1%, due to the strengthening of the soum against the single European currency, which, among other things, underlies the determination of tariffs.

The championship in price growth for January-May 2022 is held by driver training services (17.1%), in annual terms - gasoline (1.3 times).

In May 2022, information and communication equipment repair services again became the leaders in price growth in this section. In May, they became more expensive by 1.8%. The equipment for receiving, recording and reproducing sound and images also overcame the one percent mark (1.3%).

In terms of price growth, both relative to the end of last year and in annual terms, services for the repair of information and communication equipment are also leading (increase in prices, respectively, by 5.5% and 15.4%).

In May 2022, of the goods and services in this section, the 2% price growth threshold was overcome by printing invitations and postcards (2.6%), photography (2.4%), services of parks of culture and recreation (2.2%), as well as sports equipment and art paints (2.1%).

A decrease in prices was noted for fresh flowers (-2.2%), as well as for A4 paper (-7.8%), which, despite this, remains among the leaders in terms of price growth both relative to the end of last year and year-on-year. expression.

For services in the field of education in May of this year, it was noted only in the field of education, not subdivided by level. Thus, classes in foreign language courses and similar courses became more expensive by 1.3%, tutor services became more expensive by 0.7%.

Ready-made food in cafes, canteens and fast food establishments in May of this year again became the leader in terms of price growth in the section, having risen in price within a month within 1.8-2.2%. Hotel services for the specified price increased by 1.0%, prices for services of recreation centers, campsites and similar hotel services increased by 0.5% on average in the republic. The latter retain their leadership in price growth relative to the end of last year (12.3%).

In annual terms, services of fast food establishments have risen in price more than others (by 1.2 times).

Financial services have increased in price by 2.6% since the beginning of this year. At the same time, in May, a decrease in fees for money transfers (-1.4%) was noted, which was due to the strengthening of the positions of the soum against the US dollar. This, in turn, led to a decrease in the short-term CPI for financial services (-0.4%).

Despite the decrease in the amount of fees for money transfers in May of this year, this type of financial services remains among the leaders in terms of price growth in annual terms (5.9%).

In May 2022, among the goods and services in this section, services for photocopying documents (3.7%) again became the leaders in terms of price growth for the month, which is largely due to the increase in prices for consumables. Hairdressing services in May continued to grow in price, having become more expensive by another 2.2% over the month. Other appliances, products and goods for personal use rose in price within 0.9-3.5% over the month.

Document photocopying services in May of this year became leaders in the section both in terms of price growth, relative to December last year (17.1%), and in annual terms (29.1%).

In May 2022, Section I, Food and Non-Alcoholic Beverages, maintained its lead in terms of contribution to growth in both the short-term composite CPI and long-term indicators by December and May 2021.

 

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