Tashkent, Uzbekistan (UzDaily.com) —  In November 2024, the composite consumer price index (CPI) in Uzbekistan increased by 0.9% compared to the previous month. For the period of January-November 2024, the composite CPI reached 8.7%. This information was provided by the Statistics Agency.

In annual terms (compared to November 2023), the CPI stood at 110.0%.

Throughout January-November 2024, the short-term composite CPI, which reflects the monthly price change, fluctuated between 102.8% (in May) and 99.7% (in July). The average monthly growth rate of the composite CPI for January-November 2024 was 0.8%. Thus, the composite CPI for November 2024 was 0.1 percentage points higher than the average monthly value.

The annual composite CPI for January-November 2024 ranged from 108.0% (in March) to 110.6% (in May and June). The November 2024 value was 0.6 percentage points lower than the peak recorded in May and June of the same year.

In November 2024, the CPI for goods increased by 101.0% (compared to 100.9% in the previous month). By December 2023, this index had been at 103.5%.

In annual terms, the CPI for goods reached 104.7%, which was 4.2 percentage points lower than the corresponding figure for November 2023.

The short-term CPI for services in November 2024 was 100.8%, the same as in October 2024, which was 0.7 percentage points lower than in November of the previous year.

The CPI for services for the first eleven months of 2024 reached 125.9%, compared to 127.8% for November 2023.

The short-term CPI for food products in November 2024 was 101.0%. During January-November 2024, this index fluctuated between 98.0% (in May) and 101.4% (in September).

For non-food products, the CPI for the month was 101.0%, and for paid services to the population, it was 100.8%. From January to November 2024, the short-term CPI for non-food products ranged from 100.2% to 101.0%, while services ranged from 100.4% to 115.2%.

The CPI for November 2024 compared to December 2023 for food products was 100.7%, for non-food products it was 107.3%, and for services, it was 125.9%.

The annual CPI for November 2024 for food products reached 102.0%, for non-food products 108.3%, and for services 127.8%.

Excluding price fluctuations for fruits and vegetables, the CPI for food products in November was 0.3 percentage points lower than when including these changes.

For the CPI relative to December 2023 and in annual terms, the price changes for fruits and vegetables acted as a restraining factor. Thus, the composite CPI for January-November 2024, considering the influence of price fluctuations for fruits and vegetables, was 2.4 percentage points lower, and in annual terms, it was 2 percentage points lower than without considering this influence.

In November 2024, food products had the most significant impact on the short-term composite CPI. According to calculations, the contribution to the composite CPI growth for the month from price changes for food products reached 0.44 percentage points, or 47.3% of the overall increase in the composite index.

Services continued to dominate the structure of the contribution to the growth of the composite CPI, both compared to December 2023 and in annual terms.

In November 2024, the range of short-term CPI by sector was between 99.9% (Section VIII. "Information and Communication") and 101.5% (Transport).

The CPI range for January-November 2024 by sector was between 100.1% (Section I. "Food and Non-Alcoholic Beverages") and 137.9% (Section IV. "Housing Services, Water, Electricity, Gas, and Other Fuels").

In November 2024, the range of annual CPI by sector was between 101.2% (Section VIII. "Information and Communication") and 139.4% (Section IV. "Housing Services, Water, Electricity, Gas, and Other Fuels").

Compared to November 2023, the annual CPI value for November 2024 was significantly lower in Section I. "Food and Non-Alcoholic Beverages" (101.5% vs. 109.5%), and higher in Section IV. "Housing Services, Water, Electricity, Gas, and Other Fuels" (139.4% vs. 105.4%).

In November 2024, the value of the short-term CPI for groups within Section I ranged from 98.8% ("Cereals and Cereal Products") to 109.0% ("Vegetables, Root Crops, and Pulses"). Except for three groups ("Milk, Other Dairy Products and Eggs," "Oils and Fats," "Vegetables, Root Crops, and Pulses"), the short-term price index for groups was lower than the composite CPI for the month.

The CPI range compared to December 2023 was between 81.1% ("Fruits and Nuts") and 110.2% ("Meat Products").

The CPI range compared to November 2023 was between 85.4% ("Fruits and Vegetables") and 110.3% ("Meat Products").

In November 2024, the largest price decreases were observed for products like eggplants, cucumbers, tomatoes, bell peppers, lemons, and apples.

Price fluctuations in the CPI for November 2024 in annual terms ranged from 52.3% (grapes) to 133.4% (potatoes). Compared to November 2023, grapes, cucumbers, and lemons saw the most significant price reductions.

In November 2024, the primary factor holding back inflation was the decline in prices for grain crops and cereal products, fish and other seafood, as well as sugar, confectionery, and desserts. This led to a reduction in the monthly consolidated index by 0.15 percentage points.

The contribution to the short-term consolidated CPI growth in section I, "Food and Non-Alcoholic Beverages," from fruit and vegetable products amounted to +0.42 percentage points. Price increases for oils and fats, meat products, as well as milk, other dairy products, and eggs resulted in an additional increase of +0.16 percentage points to the consolidated index. The impact of other groups was less significant.

Among the goods in section I, the downward effect on the consolidated CPI for November 2024 compared to December 2023 was caused by price changes in fruit and vegetable products, as well as milk, other dairy products, and eggs (a total of -1.49 percentage points).

The price increases for meat products, non-alcoholic beverages, sugar, confectionery, and desserts, oils and fats collectively increased the consolidated CPI by 1.42 percentage points. The impact of other groups was less significant.

The most significant contribution to the year-on-year growth of the consolidated CPI in November 2024 came from price changes in meat products (+0.95 percentage points), non-alcoholic beverages (+0.20 percentage points), oils and fats (+0.14 percentage points), and sugar, confectionery, and desserts (+0.11 percentage points). The downward effect came from a decrease in prices in the groups "Milk, Dairy Products and Eggs" (-0.11 percentage points), and "Fruits and Nuts" (-0.80 percentage points). The total contribution of other groups was +0.14 percentage points.

In November 2024, the short-term CPI for section II, "Alcoholic Beverages, Tobacco Products," ranged from 100.0% (beer) to 102.7% (other tobacco products). The short-term CPI for alcoholic beverages in November 2024 was 1.7 percentage points lower than for tobacco products.

The CPI for goods in section II compared to the end of 2023 ranged from 106.7% (other tobacco products) to 112.6% (cigarettes), while the annual CPI ranged from 109.0% (other tobacco products) to 113.7% (cigarettes).

The short-term CPI for section III, "Clothing and Footwear," in November 2024 ranged from 99.1% (boys’ suits) to 103.9% (women’s fur hats). In November of this year, an increase in the cost of hot water and heating services was recorded in the Republic of Karakalpakstan and Tashkent, while in other regions it remained unchanged. As a result, the short-term CPI for the republic in November 2024 was 114.5% for heating and 109.7% for hot water supply.

A price reduction in the range of 0.3-0.6% was also noted for boys’ t-shirts and shirts, due to seasonal demand reduction. The upcoming winter season largely explained the increase in prices for insulated footwear and outerwear, which rose by 0.3-3.0% over the month.

The short-term CPI for plumbing, electrical, and painting services in November 2024 ranged from 101.1% to 102.2%. Prices and tariffs for other observed goods and services in section IV remained at October 2024 levels.

The short-term CPI for section V in November 2024 ranged from 99.3% (large kitchen appliances) to 102.3% (frying pans). Taking into account their share, the largest impact on the CPI growth in section V for the month came from price changes for household goods, textiles used in households, and furniture, household items, and pile carpets.

In November 2024, the upper boundary of the short-term CPI for goods and services in section VI rose to 102.2% (auxiliary products for vision), while the lower boundary was recorded at 100.1% (antibiotics). In the structure of short-term CPI growth in section VI, the dominant influence came from price changes for medicines and outpatient medical services.

The short-term CPI for propane in November 2024 was 111.1%. Its price fluctuated between 7,200 and 8,200 soums per liter. Gasoline rose less significantly, with the CPI for the month at 104.7%. Meanwhile, the price at various retail points ranged from 6,900 to 8,800 soums per liter for AI-80 grade and reached up to 13,000 soums per liter for AI-95 grade.

Passenger air and rail transport services, on the other hand, became cheaper during the same period, which is related to the volatility of the national currency. The CPI for driving school services was 104.4% for the month.

In November 2024, the average price level for services in the field of informatization increased by only 0.1%. The short-term CPI for mobile operator services was 100.2%, for information and communication equipment repair services – 101.0%, and for comprehensive telecommunication services – 100.3%.

Promotions affected the prices of certain types of information and communication equipment, such as mobile phones, televisions, and other equipment for receiving, recording, and reproducing sound and images. The short-term CPI range for these goods was 97.4-99.7%.

A price reduction was also noted for covers (-0.2%) and drawing albums (-0.3%). The CPI for glue and books by October 2024 was 102.4% and 102.1%, respectively. Other goods and services saw only minor price increases.

In November of this year, price increases were only recorded for educational services in the private sector. The short-term CPI for private kindergarten services was 100.1%, for tutors – 101.0%, and for foreign language courses and other educational programs – 101.4%.

In November of this year, price increases for food and beverage services were recorded across all regions. The short-term CPI, on average, across the country ranged from 101.0% to 101.3%. Hotel services during this period became 0.2% more expensive on average. Prices for recreation center services remained at October levels.

According to calculations based on the share of household consumption, the main contribution to the short-term CPI growth in section XI came from the increase in the cost of meals at cafes and canteens.

The average price level for insurance services in November this year did not change either for the month or compared to December and November 2023. Financial services became 0.1% more expensive during November 2024. Bank services rose by 0.2%, while prices and tariffs for other observed services remained unchanged.

The short-term CPI range for goods and services in section XIII for November 2024 was 99.2% (hairdryers) to 102.6% (jewelry and watches). The CPI for bathhouse and shower services, as well as for document photocopying services, by October 2024 was 102.1%, for hairdressing services – 101.3%, and for other personal use items – 100.8%.

The most significant contribution to the change in the consolidated CPI for the month came from price changes in food and non-alcoholic beverages, transport, clothing and footwear, housing services, water, electricity, gas, and other fuels. The total contribution from these sections increased the consolidated CPI for November 2024 by 0.76 percentage points, accounting for 81.7% of the total increase.

Housing services, water, electricity, gas, and other fuels remain the section that has had the greatest impact on the growth of the consolidated CPI from the beginning of the current year. Due to price increases in this section, the consolidated index was higher by 4.55 percentage points compared to December 2023. Significant contributions to the growth also came from price changes in healthcare and transport (total contribution +2.06 percentage points).

Price changes in section IV, "Housing Services, Water, Electricity, Gas, and Other Fuels," had the greatest impact on the annual consolidated CPI growth for November of this year. This section accounted for over 47% of the total increase in the consolidated index. Significant contributions to the growth also came from price changes in healthcare and transport (total contribution +2.28 percentage points, or 22.8% of the total increase).