Tashkent, Uzbekistan (UzDaily.com) -- In June 2024, the consolidated CPI for the month was 0.2%. The decrease in the average price level occurred against the backdrop of a seasonal decline in prices for fruits and vegetables, the Statistics Agency of Uzbekistan.

For the first half of 2024, the consolidated CPI reached 5.2%. In annual terms (by June 2023), this indicator is fixed at 110.6%.

In June 2024, the CPI for goods for the month was 0.7%, by December 2023 - 0.4%. In annual terms, this indicator was at the level 5.4%.

The short-term CPI for services in June 2024 was 0.90%. By December 2023 it reached 21.1%, by June 2023 –27.9%.

The short-term CPI for food products in June 2024 was 1.8%. For nonfood products it reached 0.8%, paid services to the population - 0.9%. The CPI for the first half of 2024 for food products was fixed at 1.7%, non-food products - 3.3%, services - 21.1%. The CPI for June 2024 in annual terms for food products was at the level of 3.5%, non-food products - 7.9%, services - 7.9%.

In the structure of changes in the short-term CPI for June 2024, the emphasis of influence shifted towards price changes for food products, which is mainly due to the traditional summer decline in prices for fruits and vegetables.

In the structure of the CPI for both the first half of 2024 and the annual CPI for June 2024, the impact of changes in prices and tariffs for services remained dominant, amounting to +4.90 percentage points, respectively. and +6.47 p.p. of the total increase.

In June 2024, the range of short-term CPI by section was from 98.10% (section I. “Food and non-alcoholic drinks”) to 102.9% (section X. “Educational services”) .

The lowest CPI for January-June 2024 is recorded in section VIII. “Information and communication” (98.1%), high – in section IV. “Housing services, water, electricity, gas and other types of fuel” (135.2%).

The CPI value for January-June 2024 was significantly lower than in the first half of 2023 in sections XI. “Restaurants and hotel services” (104.6% versus 111.2%) and I. “Food and non-alcoholic drinks” (98.0% versus 103.8%). The CPI value in section IV was noticeably higher than in the first half of last year. “Housing services, water, electricity, gas and other fuels” (135.2% versus 101.9%).

The annual CPI for June 2024 by section ranged from 98.3% (section VIII. “Information and communication”) to 141.20% (section IV. “Housing services, water, electricity, gas and other fuels” ).

The range of fluctuations in the short-term CPI for June 2024 by groups of section I ranged from 86.1% to 101.0%.

The average price level in section I. “Food and non-alcoholic drinks” was most significantly influenced by the seasonal factor. 

Short-term CPI below 100.0% per month was recorded in the groups “Vegetables, tubers and legumes” (86.1%), “Fruits and nuts” (95.2%), “Milk, other dairy products and eggs”, “Oils and fats” (99.9%).

With the exception of the Oils and Fats group, the June 2024 short-term CPI value in the remaining Section I groups was lower than the June 2023 value.

The CPI values for the main groups included in section I. “Food and nonalcoholic drinks” for January-June 2024 ranged from 77.5% (“Vegetables, tubers and legumes”) to 105 .4% (“Soft drinks”).

The average price level for oil and fat and dairy products in June 2024 was lower than in December 2023. With the exception of the “Oils and fats” and “Soft drinks” groups, the CPI value for the first half of 2024 was lower than the same indicator for the corresponding period in 2023. The saturation of the market with vegetable products from the new harvest allowed the CPI for vegetables, tubers, fruits and legumes to decrease to 77.5%. The CPI for fruits and nuts in the first half of this year was also significantly lower than in the same period in 2020-2023.

In June 2024, the annual CPI value for Title I groups ranged from 79.8% (“Vegetables, Tubers and Pulses”) to 125.9% (“Fruits and Nuts”). With the exception of the Fruits and Nuts group, the annual CPI value in June 2024 was lower than that of June 2023.

In June of this year, in addition to those shown in the graph, there was a decrease in prices for such types of products as watermelons and melons (CPI 27.2-11.8%), grapes (9.7%) and bananas (3.4%). Along with this, prices for fruits and vegetables such as citrus fruits (3.8- 6.3%), peaches (4.3%) and others have risen in price over the month.

In June 2024, the limiting factor was the seasonal decline in prices for fruits and vegetables, due to which the consolidated indicator for the month became lower by 0.9 percentage points. The total contribution to the growth of the short-term consolidated CPI among goods of Section I. “Food and non-alcoholic drinks” from meat products, fish and other seafood, prepared food products, as well as non-alcoholic drinks reached +0.1 p.p.

Of the goods included in Section I, the decline in the consolidated CPI for June 2024 to December 2023 was affected by changes in prices for vegetables, tubers and legumes, fat and oil products, milk, other dairy products and eggs (total - 1.41 p.p. ). Increases in prices for soft drinks, fruits and nuts, and meat products increased the consolidated CPI by 0.33 percentage points in total). The influence of other groups was less significant.

The most significant contribution to the increase in the consolidated CPI for June 2024 in annual terms was made by price changes for fruits and nuts (+1.42 percentage points). 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 June 2023 became lower by 1.14 percentage points.

In June 2024, fluctuations in the short-term CPI in section II. “Alcoholic beverages, tobacco products” ranged from 100.00% (other tobacco products) to 101.00% (vodka). The CPI for June 2024 to December 2023 for alcohol and tobacco products ranged from 102.4% (other tobacco products) to 105.5% (cigarettes). The CPI in annual terms ranged from 106.5% (cognac) to 112.2% (cigarettes).

Short-term CPI range in June 2024 from Section III. “Clothing and footwear” ranged from 99.2% (women’s tights and hosiery) to 101.2% (clothing repair). The lower limit of the CPI for the first half of 2024 for goods and services of section III is fixed at 97.8% (women’s fur hats), the upper limit is 105.6% (clothing repair). The June 2023 CPI for Title III goods and services ranged from 100.4% (girls’ tank tops) to 114.2% (dry cleaning services).

The range of shortterm CPI for construction materials and housing repair services for June 2024 was in the range of 98.4% (cement) - 100.6% (painting work). In June of this year, CPI for tariffs for cold water supply and sewerage services was 100,6 %), and fees for the removal of household waste – 102.5 %. The change in prices and tariffs for other types of goods and services in the section was less significant.

The short-term CPI for June 2024 from section V. “Household items, household appliances and routine housing maintenance” ranged from 99.0% (washing powder) to 103.2% (laundry and carpet and rug cleaning). Price reductions were also noted for matches (99.4%), laundry soap (99.8%) and teapots (99.9%).

The range of short-term CPI for goods and services included in Section VI for June of this year was 99.4% (syringes) - 104.2% (inpatient medical and rehabilitation services). The lower limit of the CPI for the first half of 2024 for goods and services of section VI is fixed at 101.4% (auxiliary products for vision), the upper limit is 119.4% (antibiotics). The annual CPI for June 2024 was in the range of 104.8% (vision aids) - 122.3% (antiseptic drugs).

Against the backdrop of declining prices for gasoline and propane, in June of this year, methane prices rose by 11.9%.The mechanism for setting the maximum price for methane sold to vehicle owners has been extended. At the same time, from June 1, 2024, it is set at the level of 3,750 soums per 1 m3.

The level of prices and tariffs for the population in the field of information and communications during June 2024 did not undergo significant changes. Fluctuations in the short-term CPI for Title VIII goods and services ranged from 99.9% (laptops) to 101.4% (information and communications equipment repairs). The CPI for June 2024 compared to the previous month for mobile telephone equipment amounted to 100.1%, comprehensive telecommunications services– 101.3 %.

In June 2024, the Section IX short-term CPI range was 98.6% (A4 paper) – 101.60% (leisure travel). The upper limit of the CPI for JanuaryJune 2024 in this section reached 126.7% (monthly magazine), the lower limit - 92.9% (A4 paper). The CPI in annual terms fluctuated between 89.1% (A4 paper) and 127.0% (fees for tickets to zoos).

Since June of this year, in all regions of the republic, fees for children attending state preschool institutions have been increased by 20%. In June 2024, the services of private kindergartens in the republic on average became more expensive by 2.4%. Prices for services in the field of higher education were stable during the month.

The short-term CPI in the food and beverage service sector in June 2024 ranged from 100.4% (prepared food in cafes) to 100.8% (fast food services). The CPI value for June 2024 compared to the previous month in the hotel services sector ranged from 100.3% (recreation center services) to 102.6% (hotels, hotel and similar services).

In June of this year, the average level of prices in the field of insurance did not change. In the field of financial services, price fluctuations were recorded for the services of banking institutions, where the CPI for the month amounted to 100.7%, as well as for money transfer services (99.3%). The key factor was the volatility of the national currency. In addition, the services of microfinance organizations and pawnshops increased slightly in price, where the short-term CPI for June 2024 amounted to 100.1%.

In June 2024, the short-term CPI for Section XIII goods and services ranged from 99.4% (baby diapers) to 102.1% (men’s barber services).

A significant contribution to the decrease in the short-term composite indicator in June 2024 was made by price changes for food and nonalcoholic drinks (-0.79 p.p.). The main inflationary impact was exerted by changes in prices in the field of transport, education and healthcare (total contribution to the increase + 0.31 p.p.).

By 0.02 p.p. price increases were added to the short-term consolidated CPI for June 2024 in the sections “Clothing and footwear”, “Housing services, water, electricity, gas and other fuels”, “Household items, household appliances and routine housing maintenance”, “Restaurants and hotel services”.

The contribution of price changes for housing services, water, electricity, gas and other types of fuel to the growth of the consolidated CPI for June 2024 to December 2023 reached 4.23 p.p., or more than 80 % of the total impact of observed goods and services. The restraining factor was the decrease in prices for food and non-alcoholic beverages, as well as in the information and communication sector (in total -0.91 p.p.). The impact of other sections was less significant.