Average level of consumer prices and tariffs in Uzbekistan decreased by 0.2%,
01/07/2020 08:48
Average level of consumer prices and tariffs in Uzbekistan decreased by 0.2%,
01/07/2020 08:48
Tashkent, Uzbekistan (UzDaily.com) -- In June 2020, the average level of consumer prices and tariffs in Uzbekistan decreased by 0.2%, the State Statistics Committee of Uzbekistan said.
In January-June 2020, prices and tariffs in the consumer market increased by an average of 4.6%. In annual terms (of June 2019), the average increase in prices for goods and services amounted to 14.2%.
In June 2019, the average monthly price of goods and services fell by 0.5%. In January-June 2019, goods and services on average rose by 5.6%.
In June 2019, compared to June 2018, goods and services on average became more expensive by 13.6%.
The calculation of the average monthly CPI growth1 for the first half of the year showed that for the indicated period of 2020 it amounted to 0.8%, while for the same period in 2019 - 0.9%.
The most significant gap in the consolidated CPI compared to December of the previous year during the first half of 2019 and 2020 was recorded in February (3.1% versus 1.4%, or 1.7 points, respectively), it was minimal in April (5.3% against 4.5%, or 0.8 points), and in June amounted to 1.0 points.
The annual consolidated CPI in June 2020, compared with the same indicator for the previous month, increased by 0.2 points (from 114.0% to 114.2%). At the same time, the CPI for June 2020 compared to June of the previous year was 0.6 points higher than this figure for June 2019 (14.2% versus 13.6%).
Mass saturation of the market with fruit and vegetable products of the new crop led to an overall decrease in prices in this group of goods and, as a result, the CPI of food products in June of this year amounted to 98.8%.
Non-food goods and paid services to the population rose by 0.6% in a month.
Due to lower food prices, the consolidated CPI for the month decreased by 0.5 p.p. The increase in prices for non-food products added 0.2 percentage points to the monthly consolidated indicator. The increase in prices and tariffs for services increased the monthly aggregate by an additional 0.1 p.p.
As for the dynamics of the impact of price changes in the main groups on the increase or decrease in the consolidated CPI for each month of the first half of the year, from January to April of the current year, the influence of price changes in food products was gradually increasing (from 0.4 p.p. to 1.4 p.p.) under the relative stability of the influence of non-food goods and services. Starting in May, the seasonal downward trend in prices for fruits and vegetables and, as a consequence, for food products, made it possible to significantly reduce inflationary pressures in the short term.
In general, in the first six months of 2020, the level of prices for food products increased by 6.2%, non-food products - by 3.6%, services - by 3.1%.
An assessment of the contribution of price changes taking into account the share of each enlarged group showed that in January-June 2020, the monthly dominance was maintained by food products. Inflationary pressure from price changes on food products during this period gradually increased from 0.4 p.p. (January) to 3.3 p.p. (April), and since May began to decline and in June reached 2.7 p.p., maintaining, despite this, the leadership in influence. The contribution of rising prices for non-food goods and paid services to the population in the growth of the composite indicator compared to December 2019 was less pronounced. So, for non-food products, this indicator from January to June increased from 0.1 p.p. up to 1.2 p.p., and for services - from 0.1 p.p. up to 0.7 p.p.
In specific indicators, the share of the influence of price changes in food products in June 2020 amounted to 58.7%, nonfood products - 26.1%, services - 15.2% of the total increase in the consolidated CPI compared to December 2019.
As for the impact of price changes in the main groups of goods and services on the growth of the consolidated CPI in annual terms, in June this year due to rising prices for food products this indicator increased by 8.0 percentage points, non-food products - by 3.2 percentage points .p., services - by 3.0 p.p.
As a percentage, food products account for about 56.3% of the total increase in the consolidated CPI compared to June 2019. The impact of non-food products and services is approximately equal, accounting for 22.6% and 21.1%, respectively.
Food products for the month became cheaper by 1.2%. The determining factor of price dynamics for this group of products continues to be the seasonal decline in prices for fruit and vegetable products. Thus, excluding price changes for fruits, vegetables and potatoes, the CPI growth for food products for the month was 0.5%.
Since the beginning of 2020, the average price increase for goods of this group amounted to 6.2% with an average monthly increase of 1.0%. Compared to June 2019, food products on average became more expensive by 18.8%.
Of the main observed groups of food products in June of this year, a decrease in prices for fruits and vegetables (on average by 8.4%) and eggs (by 2.5%) was recorded. Bakery products, on the contrary, became more expensive by 0.9%, dairy products - by 0.5%, meat, poultry and fish, as well as alcoholic beverages - by 0.4%, sugar, tea and other food products - by 0.3%, soft drinks, oil and fats - by 0.2%. Catering for the month has risen in price by 1.0%, since the beginning of the year - by 6.2%. Compared to the end of 2019, the most significant price increases were recorded for bakery products (11.5%) and eggs (8.1%).
The peak in the growth of prices for bakery products during January-June 2020 was recorded in April, when prices for goods of this group increased on average by 4.3%.
The CPI for bakery products in June of this year compared to December 2019 amounted to 111.5% with an average monthly increase of the index by 1.8%
Of the bakery products (including cereals and legumes) for the month higher than other goods of this group, an increase in prices for beans (7.5%) and buckwheat (6.1%) was noted. These same goods continue to hold leadership in price increases for January-June of the current year. So, since the beginning of the year, buckwheat has become 1.6 times more expensive, beans - 1.4 times more expensive.
The most significant increase in monthly prices for meat, poultry and fish was observed from February to April, while the minimum monthly increase was recorded in January and June.
The CPI for these products in June of this year compared to December 2019 amounted to 107.6% with an average monthly increase of 1.2%.
Meat products became more expensive by 0.4% on average over the month (7.6% since the beginning of the year). Chicken legs and shank went up by 1.6% (5.1%), other poultry meat - by 1.3% (3.0%), live and chilled fish - by 0.6% (10.2%), boneless beef - by 0.5% (8.3%), other beef - by 0.3% (7.7%), lamb - by 0.4% (10.3%), minced meat - by 0.3% (6.6%), sausages - by 0.3% (8.1% - 8.2%). A slight decrease in prices for the month was recorded for pork (0.1%) and beef legs (1.4%), while for six months they added 7.0% and 6.2% in price.
The dynamics of egg prices in the first half of 2020 was uneven. Monthly price reductions were recorded in February (by 2.1%), March (by 3.5%) and June (by 2.5%), and the peak in price growth occurred in April (8.1%). The CPI of eggs in June of this year compared to December 2019 amounted to 108.1% with an average monthly index growth of 1.3%.
The dynamics of prices for dairy products in the first half of 2020 is characterized by an upward trend. The maximum monthly increase in prices in this group was in April (2.5%), the minimum – in January, February and June (0.5% each). The CPI for dairy products in June of this year compared to December 2019 amounted to 105.9% with an average monthly index growth of 1.0%.
Of dairy products, prices for suzma (1.8%) and ice cream (1.5%) rose significantly more than others over the month, and from the beginning of the year, prices for kefir, yogurt (9.1%) and fresh milk (8.1%) . At the same time, a slight decrease in prices for fresh milk (0.1%) was recorded in June.
Price changes for fruits and vegetables are traditionally the most susceptible to significant fluctuations. So, during January-June 2020, the maximum price increase for the month was noted in April (6.6%), and a decrease in June (by 8.4%). At the same time, the average price level for these products in June of this year exceeded the value of December of last year by 1.8%, and the average monthly CPI increase for fruits, vegetables, and potatoes in the first half of 2020 amounted to 0.3%.
Of the fruits and vegetables, the most pronounced decrease in prices was for bell pepper (by 67.6%), tomatoes (by 52.1%), cucumbers (by 26.6%) and onions (by 24.3%). In addition, over the month, garlic became cheaper by 17.9%, watermelon - by 17.4%, cabbage - by 15.0%, potatoes - by 12.8%, peaches - by 8.9%. Against this background, prices for citrus fruits continued to grow - in the range from 1.0% to 6.3% and bananas - by 2.7%.
Relative to the end of 2019, the leadership in price growth belongs to lemons (2.3 times), potatoes (1.4 times) and apples (26.4%). Significantly cheaper than in December 2019, fresh cucumbers (by 77.1%) and tomatoes (by 71.1%), as well as bell pepper (by 79.0%) were sold
Sugar, tea and other products increased significantly in price from March to May (in the range of 1.0% to 1.6%), and in June they became more expensive by 0.5%. The CPI of this group of goods in June of the current year compared to December 2019 amounted to 104.9% with an average monthly index growth of 0.8%.
Prices for granulated sugar in June of this year increased by 0.4% (since the beginning of the year - by 4.1%), refined products - by 0.6% (5.7%). Confectionery for the month added 0.3% (since the beginning of the year 5.5%), coffee and tea - 0.3% (4.6%), other food products (salt, spices, seasonings, etc.) - 0.3% (3.6%).
The most significant increase in prices for the month for oil and fats was observed during March-May 2020, and the minimum price increase for the month was recorded in January. The average monthly increase in the CPI in this group of goods for the first half of the year was 0.9%. Since the beginning of the year, oil and fat products rose by an average of 5.7%.
In June 2020, vegetable oils became more expensive by 0.2% over the month (while sunflower oil - went up by 0.6%, cottonseed oil - became cheaper by 0.2%), margarine - by 0.9%, butter - by 0.3%, animals and melted fats - by 0.5%. Since the beginning of the year, butter and margarine rose by 7.2% in price, animal and melted fats - by 6.1%, vegetable oils - by 5.3%.
As for the change in consumer prices for the main groups of food products in annual terms, the eggs continue to hold the lead in price growth relative to the corresponding month last year (50.8%).
An analysis of the structure of the impact of price changes of major food groups on the value of the consolidated CPI for the month showed that the overall decrease in the price level in this enlarged group is associated with their decrease in fruits and vegetables and eggs, which, in turn, allowed the composite indicator to decrease by 0.67 p.p. The increase in prices for the remaining observed groups of food products in total affected the growth of the consolidated CPI by 0.16 percentage points Thus, price changes in food products in total ensured a decrease in the consolidated CPI by 0.51 percentage points.
Compared to December 2019, the most significant share of food products in the structure of the consolidated CPI belongs to bakery products (0.79 percentage points), as well as meat, poultry and fish (0.77 percentage points). Due to rising prices for sugar, tea and spices, the consolidated CPI increased by 0.29 p.p. compared to December 2019, dairy products by 0.20 p.p., butter and fats by 0.17 p.p. The total contribution of these groups to the growth of the composite indicator was 2.22 percentage points, or over 84% of the total impact of food products and about 48.3% of the total growth of the consolidated CPI. As for the consolidated CPI in annual terms, meat, poultry and fish (2.67 percentage points), bakery products (2.22 percentage points), as well as sugar, made the most significant contribution to the growth of the composite indicator. tea and other products (0.66 p.p.).
In June 2020, non-food products on average became more expensive by 0.6%. Relative to December 2019, the increase in prices for goods of this group amounted to 3.6%, in June 2019 - 9.4%. The average monthly increase in the CPI of non-food products in January-June 2020 amounted to 0.6%.
In June 2020, of the main observed groups of non-food products, the most significant price increases were recorded for matches (10.7%), building materials (1.9%), as well as for carpets and rugs (1.6%) and agricultural inventory (1.4%). Along with this, fuel for cars on average became cheaper by 2.9%, including gasoline - by 5.2%, propane - by 3.7%, methane - by 0.2%.
Leadership in price increases relative to December 2019 belongs to matches (62.7%). Further, in descending order, printed products (13.0%), personal transport (7.9%), medicines (7.8%), as well as tobacco products, detergents and cleaning products (6.3%) follow. In annual terms, matches (1.7 times), books, newspapers and magazines (16.1%), jewelry (15.7%) and medicines (14.3%) rose more significantly than others.
As for the contribution of price changes of the main groups of nonfood products to the growth of the consolidated CPI for the month, according to the results of June 2020, the most significant contribution, taking into account the share, was the increase in prices for construction materials (0.06 percentage points). Due to rising prices for clothes, shoes, fabrics and yarn, the aggregate indicator increased by 0.06 percentage points, detergents and cleaning products, personal hygiene products - by 0.03 percentage points, basic household goods and electrical appliances, tools of communications in total added another 0.02 percentage points to it, medicines - 0.02 percentage points. The increase in prices for other groups of non-food products added about 0.05 percentage points, while the decrease in fuel prices for automobiles led to a decrease in the consolidated CPI by 0.07 percentage points.
The increase in the consolidated CPI in June of this year compared to December 2019 was most significantly influenced by the growth of prices for clothing, shoes, fabrics and yarn (0.39 p.p.), medicines (0.22 p.p.), construction materials (0.18 p.p.), personal hygiene products, detergents and cleaning products (0.17 p.p.). due to a decrease in the price of fuel for cars, the consolidated indicator became lower by 0.15 p.p. The leading contribution to the growth of the consolidated CPI in annual terms among non-food products belongs to clothing and footwear (0.89 p.p.). also, price changes for medicines (0.40 p.p.), construction materials (0.33 p.p.), personal hygiene products, detergents and cleaning products (0.31 p.p.), fuel for cars (0.23 p.p.) made a significant contribution.
In June 2020, the increase in tariffs for paid services to the population for the month amounted to 0.6% with an average monthly increase in the CPI in this sphere by 0.5% in January-June 2020. Relative to the end of 2019, tariff growth amounted to 3.1%, and in annual terms - 12.8%
Of the observed types of paid services to the population, the services of cultural institutions rose in price more than others over the month (2.7%), which is due to an increase in the cost of entrance tickets to the capital's zoo by an average of 1.6 times. Passenger transport services became more expensive in June by 1.2%, including air transport – by 4.3% (due to changes in the Euro exchange rate against the national currency), road transport – by 0.8%, and rail – by 0.3% (due to an increase in tariffs on interstate transport).
In general, for the first half of 2020, services of pre-school educational organizations (15.2%), recreation (7.3%), and household services (5.7%) have significantly increased in price. Healthcare services have become more expensive than at the end of last year by 5.1%, passenger transport – by 3.4% (including air – by 9.0%, road – by 2.9%, railway – by 2.5%), cultural institutions – by 3.7%
As for the change in tariffs for paid services to the population in annual terms, of the main observed groups, their most significant growth was registered for education services (17.9%), housing and communal services (16.4%), and services of pre-school educational organizations (15.2%), household (14.4%), medical (11.8%), as well as passenger transport services (12.8%).
Assessing the contribution of tariff changes of the main service groups to the growth of the consolidated CPI for June 2020, we can say that the most significant contribution was made by the increase in tariffs in the sphere of consumer services (0.06 percentage points) and passenger transport (0.04 percentage points).
Of the main observed types of paid services to the population, the contribution to increasing tariffs for domestic services (0.26 percentage points) was more significant in the growth of the consolidated CPI relative to the end of 2019. In addition, a significant contribution was made by the increase in the cost of medical services (0.13 percentage points), as well as passenger transport services (0.11 percentage points), state pre-school educational organizations (0.08 percentage points) and educational services (0.07 percentage points).
As for the impact on the growth of the composite indicator in annual terms, the leading positions continue to be held by housing and communal services (0.99 percentage points), domestic services (0.65 percentage points), passenger transport (0.40 percentage points), education (0.36 percentage points), as well as medical services (0.30 percentage points).
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