Inflation rate in Uzbekistan is below forecast

Finance Materials 21 May 2019 15:14 (UTC +04:00)

Baku, Azerbaijan, May 21

By Fakhri Vakilov – Trend:

During the first quarter of 2019, the inflation rate in Uzbekistan remained lower than expected, Trend reports with reference to the report of the Central Bank of Uzbekistan.

“The inflation rate was influenced by seasonal factors connected to the supply of some products, an increase in the taxable base of VAT and a slight weakening of the national currency,” reads the message.

The rate was established under the influence of partial realization of risks and seasonal factors of price fluctuations that are in the baseline forecast, and amounted to 13.6 percent per annum, being at the lower boundary of the forecast corridor of 13.5-15.5 percent.

It is noteworthy that the annual inflation figures, after a significant decrease in January, gradually increased in February and March.

The main cause of inflation, as in the past years, was the increase in the cost of food.


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