Tashkent, Uzbekistan (UzDaily.com) -- In February 2024, the consolidated CPI for the month was 0.3%. In January-February 2024, this figure reached 1.0%, the Statistics Agency said.

In annual terms (by February 2023), the consolidated CPI was fixed at 8.4%.

In February 2024, the CPI for goods for the month was 0.2%, by December 2023 – 0.8%. In annual terms, this indicator was at the level of 8.1%.

The short-term CPI for food and non-food products in February 2024 was 0.2%. For paid services to the population, it reached 0,7%. The CPI for January-February 2024 for food products was fixed at 0.9%, non-food products –0.6%, services – 1.6%. The CPI for February 2024 in annual terms for food products was at the level of 8.7%, non-food products – 7.4%, services – 9.1%.

Without taking into account changes in prices for fruits and vegetables, the short-term consolidated CPI for February 2024 amounted to 0.20% (versus 0.3% taking these changes into account). By the level of December 2023, this indicator was fixed at 0.6%, by February 2023 – 8%.

In the structure of growth in the short-term CPI for February 2024, the emphasis of influence shifted towards price changes in services, the share of which reached 50.0%. The impact of changes in prices for food products was greatest among the three groups in the structure of growth in the consolidated CPI both for January-February 2024 and for February 2024 in annual terms.

In February 2024, the range of short-term CPI by section ranged from 99.80% (section VII. “Insurance and financial services”) to 101.0% (section II. “Alcoholic beverages, tobacco products”).

The lowest CPI in January-February 2024 was recorded for goods and services in the field of information and communications (99.9%), the highest – in the field of transport (101.7%).
Annual CPI for February 2024 by section was within 99.5% (section VIII. “Information and communications") up to 120.50% (section XI. "Restaurants and hotel service").

With the exception of sections II. “Alcoholic drinks and tobacco products”, IV. “Housing services, water, electricity, gas and other fuels” and VII. “Transport”, the annual CPI for February 2024 in all sections was lower than the same indicator for 2023.

The range of fluctuations in the short-term CPI for February 2024 by groups of section I. “Food and nonalcoholic drinks” ranged from 99.1% to 102.5%. Short-term CPI below 100.0% for the month was recorded in the groups “Grains and cereal products” (99.90%), “Meat products” (99.7%), “Milk, other dairy products and eggs” (99.6%), “Oils and fats” (99.1%).

The increase in prices for fruits and vegetables is largely due to the influence of seasonal factors. Thus, the short-term CPI for February 2024 in the group “Vegetables, tubers and legumes” reached 102.5% (a month earlier – 103.4%).

The average price level for grain crops and cereal products, meat and fatty products in February 2024 was lower than in December 2023. The CPI values for the main groups included in section I. “Food and nonalcoholic drinks” for January-February 2024 ranged from 98.3% (group “Oils and fats”) to 1060% (group “Vegetables”, tubers and legumes“.

With the exception of the groups “Readymade food and other food products”, “Nonalcoholic drinks”, the CPI value for JanuaryFebruary 2024 was lower than the same indicator for the corresponding period in 2023.

The average price level for oil and fat and vegetable products in February 2024 remained lower than in the corresponding month of last year. Fruits and nuts in February 2024, on the contrary, were sold more expensive than in February 2023.

In February of this year, there was a decrease in prices for such types of fruits and vegetables as potatoes, onions, carrots, cabbage, oranges, and bananas. Along with this, prices for fruits and vegetables such as cucumbers, bell peppers, eggplants, tomatoes, etc. have increased.

In February 2024, the most significant contribution to the growth of the short-term consolidated CPI among the goods of Section I. “Food and nonalcoholic drinks” was made by price changes for vegetables, tubers and legumes (+0.12 p.p.). The restraining factor was the decline in prices for fat and oil and meat products, milk, other dairy products and eggs, as well as for grains and cereal products (total -0.08 p.p.).

Of the goods included in Section I, changes in prices for fruits and vegetables influenced the growth of the consolidated CPI for February 2024 to December 2023 more significantly than others (total contribution of +0.41 p.p.). The moderating effect was exerted by the decline in prices for fat and oil and meat products, as well as for grain crops and cereal products (total -0.08 p.p.).

The most significant contribution to the increase in the consolidated CPI for February 2024 in annual terms was made by price changes for meat products, grain crops and cereal products (+1.60 p.p.). The downward effect was had by a decrease in prices in the groups “Oils and fats” and “Vegetables, tubers and legumes”, due to which the consolidated indicator by February 2023 became lower by 0,63 p.p.

In February 2024, fluctuations in the short-term CPI in Section II. “Alcoholic beverages, tobacco products” ranged from 100.40% (other tobacco products) to 101.20% (cigarettes). The CPI for February 2024 to December 2023 for alcohol and tobacco products ranged from 100.8% (other tobacco products) to 102.0% (cigarettes). The CPI in annual terms ranged from 109.3% (wine) to 112.4% (other tobacco products).

Short-term CPI range in February 2024 in Section III. “Clothing and footwear” ranged from 98.5% (women’s fur hats) to 101.7% (men’s shoes). The lower limit of the CPI for January-February 2024 for goods and services of section III is fixed at 98.5% (women’s fur hats), the upper limit is – 101.9% (handkerchiefs). The February 2023 CPI for Title III goods and services ranged from 102.2% (women’s fur hats) to 116.2% (dry cleaning services).

In February 2024, an increase in tariffs for cold water supply and sewerage services was recorded in the Tashkent region, which was reflected in the increase in the short-term CPI in the republic for this type of service by 1.5%. The national average fee for the removal of household waste in February 2024 increased by 9.4%. The CPI for the services of mechanics, plumbers, electricians and painters for the month amounted to 100.3%. The CPI for January-February 2024 for goods and services of section IV ranged from 97.2% (cement) to 129.2% (garbage collection fees), annual - from 97.2% (glass) to 167.6% (cold water supply and sewerage).

The short-term CPI in February 2024 in Section V. “Household Goods, Appliances and Routine Home Maintenance” ranged from 97.6% (glassware) to 102.8% (large kitchen appliances).

Range of fluctuations in the short-term CPI for goods and services included in Section VI. “Healthcare”, in February 2024 ranged from 99.3% (syringes) to 101.4% (therapeutic massage). The CPI for January-February 2024 was in the range from 99.50% (syringes) to 102.5% (antibiotics). The lower limit of the CPI in annual terms for February 2024 for goods and services of section III is fixed at 96.8% medical masks and gloves), the upper limit is – 112.7% (antibiotics).

Gasoline became more expensive in all regions in February 2024. The range of short-term CPI for it was 100.1-104.6%. The short-term CPI for propane in February 2024 on average across the republic reached 101.4%. The cost of rail and air transport services for passengers decreased by 0.3% and 1.5%, over the month, due to the volatility of the national currency.

The implementation of various promotions in order to stimulate demand was reflected in the value of the short-term CPI for such types of goods as televisions (CPI 98.5%) and peripheral equipment (99.8%).

In February 2024, the short-term CPI in section IX was 98.4% (A4 paper) – 102.70% (services provided by movie theaters). The upper limit of the CPI for January-February 2024 in this section reached 126.7% (monthly magazine), the lower limit – 97.7% (A4 paper). The CPI in annual terms fluctuated between 92.6% (A4 paper) – 134.7% (zoo services).

Since February 2024, in Jizzakh, Samarkand, Surkhandarya regions and Tashkent city, an increase in fees for children attending private preschool institutions included in the sample price survey has been recorded. The range of short-term CPI in these regions for this type of service was 101.6% -110.1%.

The short-term CPI in the food service sector in February 2024 fluctuated between 100.3% -100.40%. The cost of staying in hotels has increased since February of this year in the Samarkand and Tashkent regions, as well as in the capital of the republic. The value of short-term CPI in these regions was in the range of 100.5% - 102.3%. The national average CPI for hotel services for the month was 100.7%.

Among financial services, a decrease in prices in February 2024 was noted for the services of banking institutions, which is due to a decrease in the fees for updating bank cards issued by Hamkorbank JSCB. The short-term CPI for money transfer services through banks in February 2024 was 100.7%. Insurance services did not undergo tariff changes in February of this year.

In February 2024, the value of short-term CPI for goods and services included in Section XIII ranged from 96.60% (foam, gel, shaving cream) to 101.4% (baby diapers). The CPI for February 2024 by December 2023 in this section ranged from 967% to 102.1%, by February 2023 – from 102.3% to 121.2%.

A significant contribution to the increase in the short-term composite indicator in February 2024 was made by price changes in food and nonalcoholic drinks, which accounted for half of the total impact. Price changes in the “Transport” and “Healthcare” sections increased the summary indicator for the month by 0.08 p.p. (25% of the total impact). Due to the increase in prices for clothing and footwear, the short-term composite indicator in February of this year increased by another 0.03 p.p., which amounted to about 9.4% of the total impact. The impact of price changes in other sections was less significant.

The contribution of price changes for food and non-alcoholic drinks to the growth of the consolidated CPI for February 2024 by December 2023 reached 0.37 p.p., or 38.1% of the total impact of the observed goods and services. The influence of other sections was less significant. In the structure of the annual consolidated CPI for February 2024, over 40% were due to price changes in Section I. “Food and non-alcoholic drinks.”