TASHKENT, Uzbekistan, October 10. The inflation rate in Uzbekistan is expected to be 10.2 percent, decreasing by 1.2 percent compared to the estimated 11.4 percent in 2022, Trend reports.
As per the latest World Economic Outlook from the International Monetary Fund (IMF), the current estimated volume reflects a 1.6 percent decrease compared to the fund's earlier forecasts of 11.8 percent initially provided in April 2023.
The fund’s experts note that among the Central Asian countries in 2023, the highest inflation rate will be recorded in Kazakhstan (15 percent), while Tajikistan will exhibit the lowest inflation rate (4.6 percent).
Meanwhile, the latest report by the World Bank also shows that inflation in Uzbekistan is expected to drop from 11.4 percent in 2022 to 10.2 percent in 2023. As per data from the bank, inflation is set to continue to slow to 10 percent and 9.9 percent in 2024 and 2025, respectively.
Furthermore, the ADB (Asian Development Bank) expects inflation in Uzbekistan to amount to 11 percent in 2023, confirming the previous forecast in April. As per the data provided by the bank's analysis, the inflation rate for 2024 is expected to slow down and decrease to 10 percent.
Earlier this year, Uzbekistan recorded a decrease in inflation rates from January through June, which was the lowest rate in the last 5 years. As per data from the Center for Economic Research and Reforms (CERR), during this period, prices in the country increased by 3.5 percent, while the number for the same period in 2022 amounted to 6.5 percent.