Tashkent, Uzbekistan (UzDaily.com) — Starting from April 2025, Uzbekistan will implement higher tariffs for electricity and gas, which is expected to add between 1.5 and 1.8 percentage points to the overall inflation rate, according to Central Bank Chairman Mamarizo Nurmuratov.

In 2025, the Central Bank forecasts a reduction in inflation from an anticipated 9.5% this year to between 6% and 7%.

The base electricity tariff (up to 200 kWh per month) will increase by 33.3%, from 450 soums to 600 soums, while the gas price will rise from 650 soums to 1,000 soums (an increase of 53.8%).

Nurmuratov indicated that any changes to the base interest rate will depend on inflationary pressures, particularly core inflation and prices for 30 key consumer goods. While overall inflation stands at 10.5%, core inflation has risen by 1.1 percentage points this past quarter to reach 7.1%.

Initially, the estimated impact of the tariff hikes on inflation was projected at 2.4 percentage points; however, the actual impact turned out to be 3.9 percentage points, slightly below the predicted 4.2 percentage points.

The Central Bank recently adjusted its economic scenarios through 2027, postponing the target inflation rate of 5% once again. The base scenario now aims to achieve this goal in the latter half of 2026, with an alternative projection set for early 2027.