TASHKENT, Uzbekistan, December 3. The Consumer Price Index in Uzbekistan rose by 1.13 in November 2023, Trend reports.
As per data by Uzbekistan’s State Statistics Committee, this is the lowest value for this month in the last five years.
Food prices have risen by 1.3 percent over the past month, similar to the October figure. Since the beginning of the year, food prices have increased by 8.3 percent, and in annual terms, 10.1 percent.
The largest increase by segment was observed in fruits and nuts (9.1 percent), eggs (2.9 percent), and sugar (2 percent).
Vegetables in general have become more expensive by 0.7 percent. A slight rise in their prices was facilitated by a drop in prices for carrots by 25.7 percent, cabbage by 19.8 percent, lemon by 12.8 percent, and potatoes by 3 percent.
Earlier this year, the Chairman of Uzbekistan's Central Bank, Mamarizo Nurmuratov, said that the CBU will strive to reduce the inflation expectations of businesses and the population through a new inflation targeting mechanism.
"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.