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Finance 01/12/2022 The average price level in the consumer market increased by 1.3% in November
The average price level in the consumer market increased by 1.3% in November

Tashkent, Uzbekistan (UzDaily.com) -- In November 2022, the average price level in the consumer market of Uzbekistan increased by 1.3%, the State Statistics Committee of Uzbekistan said.

In January-November 2022, the increase in prices in the consumer sector reached 10.9% with an average monthly value of 0.9%.

In annual terms (relative to November 2021), the increase in consumer prices amounted to 12.3%.

The leader in price growth for the month in November 2022 was food products, which increased in price by an average of 2.0%. The increase in prices for goods in this group was 0.7 points higher than the increase in the aggregate indicator.

Non-food products over the same period increased in price by 0.9%, services - by 0.8%.

Food products in November of this year retained their leadership in price growth compared to the end of last year (13.7%) with an average monthly increase for January-November 2022 by 1.2%. Non-food products for the specified period rose by 9.9% with an average monthly increase of 0.9%. The increase in prices for paid services in January-November 2022 reached 7.2% with an average monthly value of 0.6%.

The increase in food prices in annual terms in November 2022 reached 16.0%, providing the undisputed leadership of this group of goods.

Non-food products, compared with November 2021, became more expensive by 10.8%, services - by 7.8%.

In November of this year, the key inflationary factor in the short term, taking into account the specific weight, was the rise in prices for food products. With a general increase in their prices for the month by 2.0%, their contribution to the increase in the consolidated indicator reached +0.84 p.p., which is over 62% of the total impact of the observed goods and services.

The share of non-food products, which rose in price by 0.9% over the month, accounted for 23.1% of the total impact. Due to rising prices in this group, the consolidated CPI rose by 0.31 p.p. over the month. The contribution of price growth for services was the smallest among the three main groups and reached 0.19 p.p. (14.2%).

The dominant contribution to the growth of the consolidated CPI for November 2022 compared to December last year belongs to food products, which, having risen in price by an average of 13.7%, increased the consolidated CPI by 5.79 p.p. Thus, the share of goods in this group accounted for 53.2% of the total impact.

The increase in the consolidated CPI for November 2022 compared to November last year was also most tangibly affected by the increase in food prices, which, having risen in price by an average of 16.0%, increased the consolidated CPI by 6.76 p.p. (55% of total influence).

In November 2022, of the main sections of COICOP 2018 Uzbekistan, the primacy in price growth for the month belongs to section I. “Food and non-alcoholic drinks” (2.0%).

The top three in terms of price growth relative to December 2021 included the following sections: “Restaurants and hotel services” (20,5 %); “Healthcare” (14,9 %); “Household goods and services, other goods and services” (14,3 %).

In November of this year, vegetables, tubers and legumes (8.5%) became leaders in terms of price growth for the month. The second position belongs to milk, dairy products and eggs, which increased in price by 2.8% over the month.

The top three leaders in price growth are fruits and nuts, as well as prepared foods and other food products, which have become more expensive by 1.7% over the month. Along with this, in November of this year, a decrease in prices for sugar, confectionery and desserts (-0.6%), as well as oil and fat products (-0.2%) was recorded.

The top three in terms of price growth in January-November 2022 included cereals and cereal products (30.0%), sugar, confectionery and desserts (24.3%), milk, dairy products and eggs (15.8%). In addition, nonalcoholic beverages (12.3%) and oil and fat products (11.4%) went up significantly. The average level of prices for fruits and nuts in November this year remained lower than at the end of last year. Compared to December 2021, they were sold cheaper by 6.7%.

In November 2022, the leading positions in terms of price growth in annual terms among the groups of section I. "Food and nonalcoholic beverages" are held by cereals and cereals (31.8%), as well as sugar, confectionery and desserts (26.3%). The least significant price increase compared to the level of November last year was noted for meat products (9.2%), prepared food products and other food products (10.2%).

The decrease in the average price level compared to November last year was recorded for fruits and nuts (-1.5%). Compared to the same indicator for November 2021, the increase in prices in annual terms for November 2022 was lower for meat products (9.4% vs. 13.2%), fish and other seafood (12.0% vs. 13.2%), oils and fats (11.9% versus 28.6%), vegetables, tubers and legumes (13.3% versus 23.8%).

In November 2022, among the main observed food products (excluding fruits and vegetables), the leaders in price growth were eggs, which became more expensive by 7.0% (in October of this year, they went up by 14.4%). In terms of price growth relative to the end of 2021, granulated sugar and bread made from wheat flour of the 1st grade (1.5 times) retain the leading positions. In annual terms, granulated sugar, wheat flour, as well as bread made from wheat flour of the 1st grade (1.5 times) have risen in price more than others.

The seasonal factor continues to have a decisive influence on the level of prices for fruits and vegetables. Cucumbers became the leader in terms of price growth for the month (by 1.7 times). Prices for eggplants, tomatoes and bell peppers went up significantly (by 1.2 times).

Lemons continue to lead in terms of price reduction among fruits and vegetables. Their prices have been falling for the third month in a row. In November of this year, these citrus fruits became cheaper by another 18.8%.

Onion is the leader in price growth compared to the end of last year - in January-November of this year, it has become 1.8 times more expensive. The most noticeable decrease in prices over this period was noted for eggplant, which, compared to December 2021, became 33.4% cheaper.

In terms of price growth in annual terms, cucumbers are leading, having become more expensive by 1.9 times compared to November 2021. Garlic became the leader in price reduction in annual terms. Compared to November last year, prices for it decreased by 33.5%.

Among the commodity groups included in section I. "Food and nonalcoholic beverages", the most significant contribution to the growth of the consolidated CPI was made by the increase in prices for vegetables, tubers and legumes (+0.39 p.p. out of 0.82 p.p. ).

The most significant contribution to the growth of the consolidated CPI for January-November 2022 among the groups of goods included in section I. "Food and non-alcoholic beverages" was made by an increase in prices for cereals and cereals. Due to the increase in prices for goods of this group, the consolidated CPI for 11 months of the current year increased by 2.46 p.p. The limiting factor was the decline in prices for fruits and nuts, which allowed the consolidated CPI to drop by 0.29 p.p.

According to calculations, the most significant contribution to the growth of the consolidated CPI for November 2022 in annual terms was made by the increase in prices for cereals and cereals. Due to the increase in prices for goods in this group, the consolidated CPI increased by 2.61 percentage points compared to November of the previous year. Price changes had a significant impact on meat products, milk, other dairy products and eggs, sugar, confectionery and desserts, as well as vegetables, tubers and legumes (total contribution +2.92 p.p.).

In November 2022, against the backdrop of rising prices for rental housing, as well as maintenance, repair and security of residential premises, the price situation in the field of utilities remained stable.

In November 2022, the most notable increase in prices for the month was noted for household goods, as well as for glassware, cutlery and household utensils (1.1% each). At the same time, small household appliances became more expensive than large ones (2.1% against 0.9%). In terms of price growth both in JanuaryNovember 2022 (16.1%) and in annual terms (16.9%), goods and services used in connection with housekeeping are leading. The most significant increase in prices among the goods and services of this group was recorded for household detergents and cleaners (by 18.1% against December and 19.0% against November last year).

Outpatient treatment services, as well as other healthcare services, increased in price by 1.4% in November 2022, sharing the lead in monthly price growth in the Healthcare section. The leadership in price growth both in January-November 2022 and in annual terms belongs to other healthcare services (17.9% and 18.3%, respectively). Among them, the prices for medical laboratory services increased most significantly (19.0% and 19.2%, respectively).

From the goods and services of the "Transport" section in November of this year, passenger transport services (1.7%) became the leaders in terms of price growth for the month. Of the main types of services included in the group, air passenger transport services increased most significantly (6.5%), including domestic traffic - by 6.8%, international - by 6.4%. The limiting factor was the decline in the price of propane for vehicles, which became cheaper by 3.5% in a month. Superiority in price growth both for the period since the beginning of the current year and in annual terms belongs to courier services (1.4 times).

The average level of prices for information and communication equipment increased by 1.1% over the month, including fixed and mobile telephone equipment - by 1.7% and 1.1%, information processing equipment - by 0.7%. Over the period since the beginning of the year, as well as in relation to November last year, peripheral equipment and its consumable components have risen in price more noticeably than others (by 7.9% and 8.7%, respectively).

Of the services in the field of informatization, in November of this year, an increase in prices was recorded for the repair of information and communication equipment (1.4%), as well as for complex telecommunications services (1.2%). Services for the repair of information and communication equipment in November 2022 retained their leadership in price growth both by December (12.7%) and in annual terms (13.4%).

In November 2022, the leading position in monthly price growth belongs to services for organizing cultural events (1.0%). At the same time, tickets to theaters became more expensive by 2.8%, cinema theaters - by 0.9%. The first line of a kind of price growth rating for JanuaryNovember 2022 is occupied by stationery and drawing materials (by 1.4 times). Compared to November last year, the goods of this group became more expensive by 38.3%, also securing the leadership in price growth in annual terms.

In November of the current year, a decrease in the amount of fees for children attending non-state preschool educational organizations was recorded (by an average of 0.5%). For information: the fees were reduced only in three regions of the republic, including the most significant one in Surkhandarya region (-4.0%). In addition, in November 2022, an increase in tuition fees for educational courses (1.0%), as well as for tutoring services (1.1%), was registered. Educational courses became leaders in price growth both in January-November (11.2%) and in annual terms (12.7%).

The price situation in the insurance services market has remained stable both since the beginning of 2022 and in annual terms. In the financial services market in November of this year, an increase in prices was recorded, which averaged 0.2%. This is due to the increase in fees for money transfers by an average of 0.7%. In January-November of the current year, the services of banking institutions became more expensive by 6.6%, the fee for money transfers increased by 3.2%, and the most significant price increase was recorded for money transfer services through electronic payment systems (17.7%). Leadership in price growth in annual terms is held by money transfer services through electronic payment systems (17.7%).

In November 2022, a significant increase in prices for the month was recorded for electrical appliances for personal use (2.1%), and hairdressing services (3.1%) and personal care establishments (2.3%) became the leader in price growth.

Among other items and services for personal use, watch repair services rose the most during the month (2.3%), which also lead in price growth for January-November 2022 (13.4%) and in annual terms (13.9%).``

Among other services, the leadership in price growth per month (0.9%), for the period since the beginning of the current year (30.5%) and in annual terms (32.4%) belongs to photocopying services.

The top three in terms of contribution to the growth of the short-term consolidated CPI for November 2022 included food and non-alcoholic beverages, clothing and footwear, and healthcare. They accounted for over 76% of the total influence. These three sections are also leading in terms of contribution to the growth of the composite indicator by December 2021. Their share in the deposit structure reached 67%. The increase in prices for food and non-alcoholic beverages, clothing and footwear, as well as in the healthcare sector provided about 68.8% of the total increase in the consolidated CPI in annual terms.

 

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