Tashkent, Uzbekistan (UzDaily.com) —  In October 2024, the consolidated Consumer Price Index (CPI) for the month was recorded at 100.8%, with a cumulative CPI reaching 107.7% for October 2024, according to the Statistics Agency.

On an annual basis (compared to October 2023), this figure was registered at 110.2%.

For October 2024, the monthly CPI for goods stood at 100.9%, while from December 2023 to October 2024, it reached 102.4%.

In year-over-year terms, this metric was 104.7%, which is 4.7 percentage points lower than the equivalent figure in October 2023.

The short-term CPI for services in October 2024 was 100.8%, down by 0.7 points from the previous month and up by 0.1 points from October last year. The CPI for services from January to October 2024 reached 124.9%, with an annual change of 128.7%.

The short-term CPI for food products in October 2024 was 101.1%. For non-food products, it reached 100.7%, and for paid services to the population, it was 100.8%.

In October 2024, the CPI for food products stood at 98.6%, non-food products at 106.2%, and services at 124.9%.

The annual CPI in October 2024 for food products was recorded at 102.2%, for non-food products at 108.1%, and for services at 128.7%.

Excluding price fluctuations for fruits and vegetables, the CPI for food products was 0.1 points lower than when these products were included.

Conversely, for the CPI from December 2023 and in annual terms, changes in fruit and vegetable prices served as a restraining factor. The consolidated CPI for January-October 2024, including fruit and vegetable price volatility, was 2.8 points lower and, on an annual basis, 2 points lower than without this impact.

In October of this year, food products had the greatest impact on the change in the short-term consolidated CPI. Calculations show that price changes in food products contributed 0.46 percentage points to the CPI increase, or 54.8% of the total index increase.

Meanwhile, services continue to dominate the contribution structure of the CPI increase compared to December 2023 and in annual terms.

Each position’s share and contribution to the consolidated CPI growth are evaluated based on price changes and its share in consumer spending structure.

In October 2024, the short-term CPI range across sectors was between 100.1% (Section XII: "Insurance and Financial Services") and 101.7% (Section VIII: "Information and Communication").

Compared to October of the previous year, the short-term CPI was lower in sections I ("Food and Non-Alcoholic Beverages"), III ("Clothing and Footwear"), IV ("Housing Services, Electricity, Gas, and Other Fuels"), VII ("Transport"), IX ("Restaurants and Hotel Services"), and XII ("Insurance and Financial Services").

The CPI range for January-October 2024 across sections was from 99.1% (Section I: "Food and Non-Alcoholic Beverages") to 137% (Section IV: "Housing Services, Water, Electricity, Gas, and Other Fuels").

In October 2024, the annual CPI range across sections was from 102.7% (Section VIII: "Information and Communication") to 140.1% (Section IV: "Housing Services, Water, Electricity, Gas, and Other Fuels").

Notably lower than in October 2023, price increases were observed for milk, dairy products, and eggs (100.9% compared to 103.2%) as well as fruits and nuts (101.9% compared to 106.5%).

In October of this year, a decline in the average price level in the "Grains and Cereal Products" group was recorded, with the CPI for the month at 99.7%. This is attributed to the seasonal influx of newly harvested rice, which led to a price decrease for this product.

CPI values for the main groups within Section I ("Food and Non-Alcoholic Beverages") in October 2024 ranged from 80.8% ("Fruits and Nuts") to 109.7% ("Meat Products").

In October 2024, the short-term CPI fluctuations in Section II ("Alcoholic Beverages and Tobacco Products") ranged from 100.2% (other tobacco products) to 102.8% (brandy).

The short-term CPI for clothing and footwear in October 2024 ranged from 99.8% (men’s shorts and summer trousers) to 103.9% (men’s socks).

For two consecutive months, a rise in rent exceeding 1% has been recorded. Nationwide, the average rent increased by 1.9% in October 2024. The CPI for apartment maintenance services reached 100.6% compared to September this year.

The short-term CPI in October 2024 in Section IX ranged from 99.6% (marker sets) to 110.3% (veterinary and other pet services).

In October 2024, price increases were noted only for private educational services, with the short-term CPI for non-state daycare centers at 101.6%, tutors at 102.5%, and foreign language courses at 101.8%.

In October of this year, the short-term CPI for catering and beverage services increased in all regions, ranging from 100.4% to 101.8% nationwide. Hotel services also increased by an average of 1.7%.

Based on calculations accounting for the population’s consumption expenditures, the primary driver of the short-term CPI growth in Section XI was an increase in dining costs at cafes and cafeterias.

The average price level for insurance services in October of this year remained stable compared to both the previous month and December and October 2023. Financial services saw a 0.2% price increase over October 2024. Specifically, banking services rose by 0.2%, while fees for money transfers went up by 0.5%.

In October 2024, the short-term CPI range for goods and services in Section XIII was from 99.6% (sunglasses) to 110.3% (legal services).

The rise in the average price level for legal services was due to an increase in the base calculation value (BCV). The short-term CPI for women’s and men’s hairdressing services in October of this year was 101.2% and 101.6%, respectively.

The most significant contributors to the change in the composite CPI for the month were price changes in food and non-alcoholic beverages, household goods and services, various goods and services, and healthcare. Collectively, these sections added 0.57 percentage points to the October 2024 composite CPI, accounting for 67.9% of the total growth.

Housing services, water, electricity, gas, and other fuels remained the primary contributors to the composite CPI growth from the beginning of the year. Significant contributions also came from price changes in healthcare and transportation. A reduction in the average price level for food and non-alcoholic beverages served as a mitigating factor, lowering the composite CPI by 0.37 percentage points compared to December 2023.