BAKU, Azerbaijan, June 15. The Central Bank of Uzbekistan has maintained the interest rate at 14 percent per annum, Trend reports.
The transition of core inflation and inflation expectations to a stable downward trajectory increases the possibility of lowering the main rate while maintaining moderately tight monetary conditions in the future, the Central Bank reported.
In May this year, overall inflation slowed to 10.4 percent year-on-year. Core inflation declined more slowly and amounted to 12.4 percent, the CBU said.
The weakening of broad inflationary processes served to reduce to 50 percent the share of goods and services in the consumer basket, the prices of which increased by more than 10 percent. However, this indicator is formed above 30-40 percent of the values of 2020-2021.
The main factors contributing to the slowdown in inflation were the exhaustion of last year's effects of a high base, seasonal factors and the preservation of regulated prices almost unchanged, as well as the formation of the exchange rate of the national currency at a relatively stable level, the Central Bank noted.