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Rise in gasoline prices affects inflation rate in Uzbekistan

Uzbekistan Materials 1 June 2021 13:03 (UTC +04:00)
Rise in gasoline prices affects inflation rate in Uzbekistan

BAKU, Azerbaijan, June 1

By Klavdiya Romakayeva - Trend:

The key inflationary factor in the transport sector of Uzbekistan in May was the rise in gasoline prices, which increased by 3.7 percent, Trend reports referring to the State Statistics Committee of Uzbekistan.

According to the committee, in May, goods and services in the consumer market of Uzbekistan increased on average by 0.5 percent. Since the beginning of the year, their prices have increased by 4.6 percent with an average monthly value of 0.9 percent. In annual terms, the growth of the consumer price index reached 10.9 percent. It is noted that food products changed in price by 0.5 percent, non-food products rose by 0.4 percent, services - by 0.7 percent.

Among the main food products (excluding fruits and vegetables), the most significant rise in price over the month was noted in prices for sugar (2.5 percent), live, fresh, chilled fish (1.5 percent), buckwheat (1.3 percent), beef with bones (1.1 percent), lamb (0.9 percent), boneless beef (0.8 percent) and milk (0.5 percent).

A decrease in prices in May was recorded for cottonseed (1.5 percent) and sunflower (0.2 percent) oils, oat (0.3 percent) and semolina (0.1 percent) cereals. A decrease in egg prices (in the range from -0.4 percent to -2.5 percent) was noted in seven regions, while their growth was noted in six regions (within 0.6 percent -1.6 percent).

Among fruit and vegetable products, the most significant growth in just a month was noted in prices for carrots (30.2 percent), beets (22.4 percent) and apples (16.7 percent). The most significant price reductions were recorded for fresh cucumbers and tomatoes (62.8 percent and40.4 percent), bell peppers (-29.4 percent). Since the beginning of the year, prices for carrots (1.6 times), beets and pumpkins (1.5 times) have risen more than others, fresh cucumbers and tomatoes have fallen in price most of all, decreasing by 72.7 percent and 13.8 percent, respectively.

At the same time, the key inflationary factor in this transport sector was the rise in gasoline prices, which rose by 3.7 percent on average throughout the country. Propane increased in price by 3.2 percent over the month, methane, on the contrary, became cheaper by 0.5 percent. The cost of services for the maintenance and repair of vehicles increased by 1.1 percent, lubricants rose by 0.4 percent.

In addition, delivery services rose by 1.8 percent. The cost of passenger transport services increased by 0.9 percent. The most significant increase in prices was noted for air and train tickets (by 2.6 percent and 0.8 percent, respectively), as well as the cost of travel in intercity (2.1 percent) and city (1.5 percent) buses.

Moreover, the cost of insurance and financial services for the month did not change significantly. Only a 0.6 percent increase in fees for money transfers was registered, which is associated with a change in the exchange rate of the national currency against the US dollar. During 5M2021, the cost of insurance services was also stable, while financial services rose by 1.4 percent.

In annual terms, the increase in prices for financial services was recorded at around 6.2 percent, which was influenced by an increase in the cost of services of banking institutions by 1.1 percent, fees for money transfers - by 4 percent, as well as for the transfer of funds through electronic payment systems - by 18.9 percent.

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Follow the author on Twitter: @romakayeva

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