Uzbekistan notes decrease in prices of goods and services in consumer markets

Uzbekistan notes decrease in prices of goods and services in consumer markets

In July 2021, goods and services in the consumer market of Uzbekistan on average became cheaper by 0.2%, which is largely due to the seasonal factor, the State Statistics Committee of Uzbekistan said. Since the beginning of this year, the increase in prices in the consumer sector amounted to 4.2% with an average monthly value of 0.6%. In annual terms, the CPI growth reached 11.1%, Trend reports citing UzDaily.

The short-term consolidated CPI in July 2021 was 0.1 points higher than in July 2020 and 0.2 points higher than in July 2019. The consolidated CPI in annual terms (to the corresponding month of the previous year) for July 2021 was 3.3 points lower than in July last year, and 2.4 points lower than in July 2019. The level of this indicator for January-July 2021 (compared to December of the previous year) was, respectively, 0.1 and 1.0 points lower than the same indicator for January-July 2020 and 2019.

Changes in food prices continued to have a decisive impact on the aggregate indicator in the short term. Thus, in July of this year, the decline in food prices allowed the short-term consolidated CPI to fall by 0.38 percentage points. The contribution of the rise in prices for non-food products to the growth of the consolidated CPI in the short term in July 2021 reached 0.18 p.p. The increase in prices and tariffs for services in July 2021 added another 0.03 p.p. to the consolidated CPI for the month.

The dominant influence of price changes on food products was also manifested in the structure of the consolidated CPI in annual terms for July 2021. The rise in prices for them increased this indicator by 6.4 percentage points. (about 57.6% of the total impact of goods and services).

The share of the contribution of the growth in food prices in the total increase in the consolidated CPI in January-July this year reached 47.3% of the total increase in the consolidated CPI (against 54.4% in January-June this year). Non-food products accounted for 29.2%, services - 23.5% of the total contribution of all goods and services covered by price monitoring.

The decrease in the CPI for food products in July this year for the month amounted to 0.9%. In July 2020 and 2019, the decrease in this indicator was more pronounced and reached 1.3%. The growth in the annual CPI in this group in July 2021 was 15.1%. This is, respectively, 3.9 and 2.3 points lower than the same indicator for July 2020 and 2019. In general, in the first seven months of 2021, food prices increased by 4.7%, which is 0.2 points lower than in the corresponding period of 2020, and 0.1 points higher than in January-July 2019.

The increase in the CPI for non-food products in July this year amounted to 0.5% for the month. This is the same as in July 2020 and 0.1 points higher than in July 2019. The growth of the annual CPI in this group in July 2021 reached 8.3%, which is 1.1 points lower than the figure for July last year, and 1.2 points lower than in July 2019. Relative to December 2020, non-food products became more expensive by 3.6%, which is 0.5 points lower than in January-July last year, and 2.1 points lower than in the same period in 2019.

In July 2021, services rose in price by 0.2% over a month. This is 0.2 points lower than in July last year, and is equal to and equal to the increase in prices in July 2019. The annual CPI in this group in July 2021 reached 107.8%, against 113.0% in July 2020 and 112.7% in July 2019. Since the beginning of 2021, services have become more expensive by 4.3%, which is 0.7 points higher than in January-July last year and 1.3 points lower than the increase in prices for this group in January-July 2019.

The seasonal decline in prices for fruits and vegetables and dairy products, as well as for eggs, significantly affected the short-term CPI for July 2021 in the section “Food and non-alcoholic beverages”. Fruits and nuts became cheaper over the month by 7.0%, vegetables, tubers, plantains and legumes - by 4.2%, dairy products and eggs - by 0.6%. The most significant rise in prices for meat products (1.2%).

The top three in terms of price growth in January-July 2021 included fat and oil products (1.2 times), fruits and nuts (7.9%), sugar, confectionery and desserts (7.3%). In annual terms, fat and oil products (1.5 times), vegetables, tubers and plantains and legumes (25.6%), fruits and vegetables (16.5%), sugar, confectionery and desserts (15.7 %).

In July 2021, among the main foodstuffs (excluding fruits and vegetables) for the month, the prices for eggs decreased most significantly (-4.5%). Sunflower oil became cheaper per month on average in the republic by 0.5%, raw milk - by 0.1%). Along with this, the prices for beef and mutton (1.1-1.6%), as well as legs and other poultry meat (0.7-1.2%) rose more significantly than others. In relation to December 2020, vegetable oil (1.3 times) and granulated sugar (15.1%) continue to hold the leading positions in price growth. In annual terms, inflationary processes were most clearly manifested in the growth of prices for cottonseed and sunflower oil, which, on average, became 1.6 times more expensive, as well as for sugar (1.3 times).

Among fruit and vegetable products, the most significant prices for the month fell for watermelons (-35.9%), bell peppers (-35.6%) and tomatoes (-31.9%). The highest rise in prices for the month was recorded for fresh cucumbers (27.6%). In terms of price growth both from the beginning of the year and in annual terms, carrots are leading by a significant margin (2.8 and 3.0 times, respectively).

As in the previous month, among food products and nonalcoholic beverages, the most significant impact on the current short-term consolidated CPI in July this year had a seasonal decline in prices for fruits and vegetables. Thus, due to a decrease in prices for crop production, the consolidated CPI for the month decreased by 0.49 percentage points. Lower prices for dairy products and eggs allowed the consolidated CPI to fall by another 0.03 percentage points. The main inflationary impact from food and non-alcoholic beverages came from the rise in prices for meat products (+0.11 p.p.). The increase in prices for cereals and cereals, as well as for sugar, confectionery and desserts, in total increased the aggregate indicator by 0.02 percentage points.

The most significant contribution to the growth of the consolidated CPI for January-July 2021 from the main groups of food and non-alcoholic beverages was made by price changes for fat and oil products. In total, due to the growth in prices for oil and fats, the consolidated CPI since the beginning of the year has increased by 0.67 percentage points. A significant contribution was also made by the increase in prices for meat products (+0.45 p.p.), fruits and nuts (+0.33 p.p.), as well as for sugar, confectionery and desserts (+0.21 p.p.). The restraining factor was the decline in prices for vegetables, tubers, plantains and legumes. Due to this, the aggregate indicator decreased by 0.10 percentage points.

In July of this year, alcoholic beverages became more expensive by 0.2% over the month, including beer - by 0.3%, spirits and liqueurs - by 0.2%, wine - by 0.1%. Over the same period, tobacco products rose in price by 0.6%. By the level of December 2020, alcoholic beverages increased in price by 4.7%, including alcoholic beverages and liqueurs - by 5.2%, beer - by 3.8%, wine - by 2.9%. Over the same period, tobacco products have become more expensive by 9.7%. In annual terms, alcoholic beverages rose in price by an average of 9.0%, tobacco products - by 14.4%.

In July 2021, prices and tariffs for housing services, water, electricity, gas and other types of household fuel increased by 0.1% over the month. Rent for residential premises for the month increased by 0.7%, materials for maintenance and repair of housing - by 0.3%, services of locksmiths, plumbers, electricians and painters - by 0.2%. Since the beginning of the year, housing maintenance and repair services, as well as the materials used for this, have become more expensive by 4.1% and 3.7%, respectively, (13.2% and 7.9% by July 2020), rent increased by 2.3%, for cold water supply and sewerage - 1.6 times (1.9 times), service in apartment buildings - by 1.8% (1.9%), for waste collection and disposal - by 1.1% (1.1%).

The most significant of the goods and services in this section in July of this year, prices increased for large (1.3%) and small (0.9%) household appliances, as well as services for the repair and installation of furniture, household items and pile carpets ( 1.1%). In general, in January-July 2021, housekeeping services and household services (8.9%), including disinfection and pest control (14.2%), continue to lead in price growth. In annual terms, leading positions in price growth also belong to household and household services (15.7%).

Of the main monitored groups of goods and services in the healthcare sector, in July 2021, prices for medical devices for personal use increased most significantly over the month (0.7%). Since the beginning of the year, the most tangible price increase was noted for inpatient treatment services (7.8%), as well as for diagnostic imaging and medical laboratories (8.0%). Compared to July 2020, services for diagnostic imaging and medical laboratories (14.8%), inpatient treatment and rehabilitation services (11.6%), outpatient medical and rehabilitation services (11.9%) have risen more significantly than others.

As in the previous month, the key inflationary factor in this section in July 2021 was the rise in gasoline prices, which increased by 4.0% on average in the republic over the month, and propane, which added 5.5% in price. The restraining factor was the decrease in the cost of air (-1.9%) and railway (-0.3%) passenger transport services, which, according to the pricing policy of the companies providing these services, was due to the strengthening of the position of the national currency against the euro and the Swiss franc. Since the beginning of 2021, the most pronounced growth in prices was for gasoline (21.6%), as well as for maintenance and repair services for personal vehicles (8.4%). In annual terms, inflationary processes were most clearly manifested in the growth of prices for gasoline (1.4 times), services for the maintenance and repair of personal vehicles (18.9%), as well as for air passenger transport services (15.8%).

In July of this year, equipment for receiving, recording, reproducing sound and images became more expensive by 1.4% per month, mobile telephone equipment, repair services for information and communication equipment - by 0.8%, equipment for information processing - by 0, 6%, fixed telephone equipment - by 0.3%. In general, in January-July 2021, equipment for receiving, recording and reproducing sound and images increased more significantly than others (7.8%). In annual terms, by a significant margin, the leaders in price growth continue to be held by services for the repair of information and communication equipment (15.9%).

In July of this year, the main increase in prices in the section "Recreation, Sports and Culture" was recorded for services in parks (4.4%) and cinemas (1.8%). Along with this, there was a decrease in prices for fresh flowers (-2.0%). Compared to December 2020, the highest price increases were recorded for newspapers and periodicals (15.1%), as well as for park services (11.3%). In annual terms, the leadership in the growth of prices continues to be held by the services of renting textbooks and teaching aids, which, as compared to July last year, increased in price by 36.0%.

In July this year, against the background of price stability in the field of preschool and higher education in a number of regions, an increase in the cost of attending language and similar training courses (on average in the republic by 0.3%) and tutoring services (0.2%) was registered. Since the beginning of this year, the services of tutors in the country on average have increased in price by 5.0%, training on courses - by 4.0%. Over the same period, preschool education services have risen in price by 13.1%, including in state preschool educational institutions - by 15.0%, non-state - by 3.2%. The leaders in the growth of prices in annual terms are the services of state preschool educational organizations (15.0%), while tuition fees in state universities on a contract basis, on the contrary, decreased by 5.8%.

Over the month, ready-made food in cafes and canteens has become more expensive within 0.5-0.8%, in fast food establishments - by 0.9%. Services of hotels, hotels and similar hotel services for the same period on average in the republic increased by 0.3%, while the cost of services of recreation centers remained at the level of the last month.

Leadership in price growth in January-July of this year is held by the services of recreation centers, which have risen in price by 17.3% since the beginning of the year. Leadership in price growth in annual terms for July 2021 also belongs to the services of recreation centers (1.2 times). Prepared food in canteens and cafes became more expensive as compared to July last year by 15.1% and 13.9%, in fast food establishments - by 16.6%. Hotel services, hotels and similar hotel services, compared to July 2020, have become more expensive by 8.7%.

In July this year, the cost of insurance services for the month did not undergo significant changes. In the field of financial services, an increase in fees for money transfers by 0.5% was recorded (the impact of changes in the exchange rate of the national currency against the US dollar), as well as a decrease in the cost of services for transferring funds through electronic payment systems by 5.0%. Since the beginning of 2021, the cost of insurance services has also been stable, while financial services have become more expensive by 0.4%.

In annual terms, the increase in prices for financial services was recorded at around 1.2%, which was influenced by an increase in the cost of services of banking institutions by 2.6%, fees for money transfers - by 4.6%, as well as a decrease in fees for transferring funds through electronic payment systems - by 5.0%.

Among household goods and services, the leadership in price growth belongs to the services of hairdressing salons, which in July of this year on average in the republic became more expensive by 1.3%. Among other services in this section, there were no significant price changes in July. In general, in January-July 2021, prices increased most noticeably for hairdressing services (11.9%), funeral services (11.7%), legal services (9.5%), and photocopying of documents (7.5%) and watch repair (7.0%). The top three in terms of price growth in annual terms included hairdressing services (22.3%), photocopying of documents (21.8%) and watch repair (17.8%).

The most significant impact on the short-term consolidated CPI for July 2021 was exerted by a decrease in prices for food and non-alcoholic beverages (-0.40 p.p.), which is largely due to a seasonal decrease in prices for fruits and vegetables, as well as for certain types of dairy products. products and eggs. The most significant contribution to the growth of the aggregate indicator was made by price changes in the transport sector (+0.07 percentage points), as well as for household items, household appliances and current housing maintenance (+0.05 percentage points). The impact of price changes in other sections was less significant and was in the range of 0.01-0.02 p.p.

As noted above, for the second month in a row, the average price level in the “Food and non-alcoholic drinks” section has decreased (in June and July, 1.0% each month). Despite this, this section continues to hold the lead in terms of its contribution to the consolidated CPI growth by December 2020 (+1.87 p.p. with a total increase of 4.2 p.p.). In specific terms, food and nonalcoholic everages account for over 44% of the total impact of goods and services.

The dominance of the impact of rising prices for food and non-alcoholic beverages also manifested itself in the structure of the annual consolidated CPI for July 2021. These goods accounted for more than 55% of the total impact of goods and services.

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