Way down they go: consumer prices in Uzbekistan decrease again

Business Materials 31 July 2018 17:26 (UTC +04:00)

Baku, Azerbaijan, July 31

By Fikret Dolukhanov – Trend:

Prices for main types of goods and services in Uzbekistan decreased by an average of 0.3 percent in July 2018, the State Statistics Committee of Uzbekistan stated.

The inflation rate for January-July 2018 was 5.9 percent.

For the second month in a row, deflation in the consumer sector is caused by decreasing prices for food products, while non-food products and services, on the contrary, acted as an inflationary factor.

Prices for food products on average dropped by 2.3 percent, which resulted in a decrease in the consumer price index (CPI) by 1.0 percentage points.

In turn, the increase in prices for non-food products by 1.7 percent led to an increase in the consolidated CPI by 0.6 percentage points.

Tariffs for services for the population have not undergone significant changes and increased only 0.5 percent in July. This led to an increase in the consolidated CPI by 0.1 percentage points.

The increase in the minimum wage entailed a rise in prices for those services that are directly billed with reference to its size (legal services, veterinary services, and certain types of banking services).

In June 2018, prices for goods and services in the consumer market of Uzbekistan decreased by 2.7 percent.

The decline in prices was primarily reasoned by the seasonal reduction in the price of fruit and vegetable products.


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