Baku, Azerbaijan, Oct. 27
By Nigar Guliyeva – Trend:
The level of inflation in Uzbekistan amounted to 7.8% for the first nine months of this year, which is 2.2 percentage points higher than the same period of 2016.
The average increase in prices for consumer goods in this period amounted to 7.6% (which is by 3.3 less than in January-September 2016), non-food products - 8.6% (more by 6.4%) and paid services - 7% ( more by 7%), the Central Bank reported referring to the State Statistics Committee.
The increase in prices, along with monetary factors, was influenced by traditional seasonal fluctuations and supply factors.
Previously, the Central Bank decided to leave the refinancing rate unchanged - at the level of 14% per annum "in order to preserve the return on assets in the national currency, to ensure the positivism of real interest rates and to prevent the growth of money supply in the economy."
The refinancing rate was raised from 9% per annum in June 2017.
Inflation in Uzbekistan is expected to be in the range of 11-12% by the end of 2017.
The official data shows that in 2016 inflation in Uzbekistan amounted to 5.7% against 5.6% in 2015. In 2017, inflation was planned to be kept in the range of 5.7-6.7%.