TASHKENT, Uzbekistan, December 2. The inflation rate in Uzbekistan amounted to 7.43 percent from January through November of 2023, Trend reports.
According to data from Uzbekistan's State Statistics Committee, the rate has declined dramatically in comparison to the same period last year due to the effect of a low base.
Nonetheless, annual inflation was 8.76 percent at the end of November, a little decrease from October.
The committee emphasizes that November is the third month since the start of 2023 that has seen inflation fall below nine percent.
Earlier this year, Mamarizo Nurmuratov, Chairman of Uzbekistan's Central Bank, stated that the CBU will work to reduce inflation expectations among enterprises and the general public through a new inflation targeting system.
"In the past few years, fiscal policy and ensuring financial stability have become key aspects of the economic development of all countries. When regulating the monetary policy of a country, it is important to determine the strategy of economic policy and its potential consequences. In addition to price stability, the Central Bank should pay attention to financial stability and financial consolidation," he said.
According to him, the main challenges to financial stability are increased foreign exchange demand supported by fiscal policy measures and limited credit policy transmission.