TASHKENT, Uzbekistan, April 16. The International Monetary Fund (IMF) updates on Uzbekistan’s inflation rates, Trend reports.
According to the IMF's latest World Economic Outlook report,
Uzbekistan's inflation rate will reach 11.6 percent in 2024. The
inflation rate is expected to rise by 1.6 percent year over
year.
In addition, the IMF predicts that Uzbekistan's inflation rate will
fall to 9.7 percent by 2025. At the same time, the country's
inflation rate is predicted to reduce, reaching 5 percent in
2029.
Meanwhile, the Asian Development Bank (ADB) predicts Uzbekistan's
inflation rate to remain around 10% in 2024 and just marginally
lower to 9.5 percent in 2025.
This reflects the delayed effects of energy price hikes in October
2023, as well as predicted rises in domestic energy prices in 2024
and 2025, according to the ADB.
To tackle inflation, commercial banks are likely to keep a check on credit growth by limiting microcredit and consumer lending, including auto loans, the bank analysts noted.