Tashkent, Uzbekistan (UzDaily.com) -- In April 2024, the consolidated CPI for the month was 0.9%. For January-April 2024, this figure reached 2.6%. In annual terms (by April 2023), the consolidated CPI was fixed at 8.1%.

In April 2024, the CPI for goods for the month was 0.7%, by December 2023 - 2.1%. In annual terms, this indicator was at the level of 7.3%.

The short-term CPI for services in April 2024 was 1.80%. By December 2023 it reached 4.1%, by April 2023 – 10.8%.

The short-term CPI for food products in April 2024 was 0.4%. For non-food products it reached 1.0%, paid services to the population – 1.8%. The CPI for January-April 2024 for food products was recorded at 2.1%, non-food products - 2.1%, services - 4.1%. The CPI for April 2024 in annual terms for food products amounted to 7.0%, non-food products - 7.7%, services - 10.8%.

Without taking into account changes in prices for fruits and vegetables, the short-term consolidated CPI for April 2024 amounted to 0.9%. By the level of December 2023, this indicator was fixed at 2.0%, and by April 2023 –7.9%.

In the structure of growth in the short-term CPI for April 2024, the emphasis of influence shifted towards price changes for food products, the share of which reached 44,1%.

In the structure of the CPI for both January-April 2024 and the annual CPI for April 2024, the influence of the three groups was distributed relatively evenly (approximately one-third of each group)

The lowest CPI for January-April 2024 was recorded for services in the field of insurance and finance (97,9%), the highest – in the field of healthcare (110,3%).

The annual CPI for April 2024 by section ranged from 97,2% (Section VIII. “Information and Communication”) to 117,90% (Section XI. “Restaurants and Hotel Services”).

The range of fluctuations in the short-term CPI for April 2024 by group of section I. “Food and non-alcoholic drinks” ranged from 97.3% to 103.0%.

Short-term CPI below 100.0% for the month was recorded in the groups “Oils and fats” (99.8%) and “Milk, other dairy products and eggs” (97.3%), «Vegetables, nonfertile crops and grains – beans» (98.8%).

With the exception of the Fish and Other Seafood, Oils and Fats, and Soft Drinks groups, the short-term CPI value for April 2024 in the remaining Section I groups was lower than the April 2023 value.

Fluctuations in prices for fruits and vegetables and dairy products, fish and other seafood products are largely due to the influence of seasonal factors.

The CPI values for the main groups included in section I. “Food and nonalcoholic drinks” for January-April 2024 ranged from 97,4% (group “Oils and fats”) to 108,9% (group “Vegetables, tubers and legumes”).

The average price level for oil and fat and dairy products in April 2024 was lower than in December 2023.

With the exception of the groups “Oils and fats”, “Ready food and other food products”, “Soft drinks”, the CPI value for January-April 2024 was lower than the same indicator for the corresponding period in 2023 of the year.

The influence of the seasonal factor became decisive for the value of the CPI for fruits and vegetables, where the price increase since the beginning of the current year was more pronounced than in other groups of the section.

In April 2024, the annual CPI by Title I group ranged from 91.5% (Oils and Fats) to 131.4% (Fruits and Nuts). With the exception of the “Fruits and Nuts” group, the annual CPI value in April 2024 was lower than the corresponding month in 2023.

In April of this year, there was a decrease in prices for such types of fruits and vegetables as cucumbers, bell peppers, onions, eggplants and carrots. Along with this, prices for fruits and vegetables such as pumpkin, bananas, tangerines, lemons, etc. have increased.

In April 2024, the most significant contribution to the growth of the short-term consolidated CPI among goods of Section I. “Food and non-alcoholic drinks” was made by price changes for fruits and nuts (+0,17 p.p.). The restraining factor was the decline in prices for vegetables, tubers and legumes, milk, other dairy products and eggs (total -0,17 p.p.).

Of the goods included in Section I, changes in prices for fruits and vegetables influenced the growth of the consolidated CPI for April 2024 to December 2023 more significantly than others (total contribution of +0,79 p.p.). The moderating effect was exerted by the decline in prices for fat and oil and dairy products (total -0.16 p.p.). The most significant contribution to the growth of the consolidated CPI for April 2024 in annual terms was made by price changes for grain crops and cereal products, meat products, fruits and nuts (+2,96 p.p.). The downward effect was had by a decrease in prices in the groups “Oils and fats” and “Vegetables, tubers and legumes”, due to which the consolidated indicator by April 2023 became lower by 0.62 p.p.

In April 2024, fluctuations in the short-term CPI in Section II. “Alcoholic beverages, tobacco products” ranged from 100.7% (cigarettes) to 101.0% (vodka, beer, other tobacco products). The CPI for April 2024 to December 2023 for alcohol and tobacco products ranged from 102.1% (other tobacco products) to 103.3% (vodka cigarettes). The annualized CPI ranged from 107.4% (beer) to 112.2% (cigarettes).

Short-term CPI range in April 2024 from Section III. “Clothing and footwear” ranged from 99.4% (hosiery for boys) to 100.7% (tracksuit for boys). The lower limit of the CPI for January-April 2024 for goods and services of section III is fixed at 98.1% (women fur hats), the upper limit is 104.2% (t shirts for boys).

The April 2023 CPI for Title III goods and services ranged from 102.9% (women’s hosiery) to 115.6% (dry cleaning services).

In April 2024, an increase in fees for heating and hot water supply services for the population was recorded, which is associated both with the abolition of zero VAT rates on turnover for the sale of these types of services throughout the republic, and with an increase in the tariffs themselves in the SurKhandarya region and Tashkent. 

In addition, with the exception of Navoi and Surkhandarya regions, cold water supply and sewerage services increased by 12.0% in all regions of the republic, which was also due to the abolition of VAT benefits. In the above two regions, in addition to the introduction of VAT, the size of the tariff itself was increased, which affected the amount of payment by 52.8% and 65.5%, respectively. The total contribution of price changes for hot and cold water supply, sewerage and heating services, as well as garbage collection, to the growth of the consolidated CPI for the month reached 0.35 p.p.

The short-term CPI for April 2024 from Section V. “Household Goods, Appliances and Routine Home Maintenance” ranged from 97,8% (small beverage preparation appliances) to 102,5% (washing powder)

The increase in prices in the healthcare sector from April 2024 is due to the application of VAT on certain goods and services, the turnover of which was previously subject to this type of indirect tax at a zero rate.

The cost of railway transport services increased in April 2024 due to an increase in ticket prices for commuter trains by an average of 27.0% across the republic. Air travel to tracked international destinations became cheaper on average by 2.0% per month, and domestic by 1.2%, which is due to the volatility of the national currency.

Competition in the mobile device market has resulted in a slight reduction in prices for smartphones and mobile phones. In addition, changes in tariff policies by individual mobile operators aimed at increasing the volume of services provided affected the estimated cost per unit of services for the population.

In April 2024, the short-term Title IX CPI range was 98,7% (A4 paper) – 115.40% (zoo ticket fees). The upper limit of the CPI for January-April 2024 in the specified section reached 126.7% (monthly magazine), the lower limit - 95.7% (A4 paper). The CPI in annual terms fluctuated between 91.1% (A4 paper) and 127.0% (fees for tickets to zoos).

Among educational services, price increases in April 2024 were noted only for the services of private preschool educational institutions (0,8%), tutors (0,3%) and educational courses (0,6%).

The short-term CPI for food and beverage services in April 2024 ranged from 100,8% (canteen food) to 101,00% (fast food services). The CPI value for April 2024 compared to the previous month in the hotel services sector was in the range from 100,0% (recreation center services) to 100,4% (hotels, hotel and similar services).

In April of this year, the average price level in both insurance and financial services did not change significantly. Minor price fluctuations were recorded only for banking services, where the CPI for the month amounted to 100,4%, and for money transfer services (100,8%).

In April 2024, the value of short-term CPI for goods and services included in section XIII ranged from 99,60% (foam, gel, shaving cream) to 101,1% (men’s barbershop services). The CPI for April 2024 by December 2023 in this section ranged from 95,8% to 104,8%, by April 2023 – from 100,4% to 121,7%.

Significant contribution to the increase in the shortterm composite indicator in April 2024 was made by price changes for food and non-alcoholic drinks, housing services, water, electricity, gas and other types of fuel, goods and services in the healthcare sector, which together accounted for over 95% of total impact

The restraining factor was the decline in prices in the field of information and communications, due to which the consolidated CPI for the quarter became lower by 0.07 p.p.

The impact of price changes in other sections was less significant.

The contribution of price changes for food and non-alcoholic drinks to the growth of the consolidated CPI for April 2024 by December 2023 reached 0,88 p.p., or 33,9% of the total impact of the observed goods and services. The influence of other sections was less significant. In the structure of the annual consolidated CPI for April 2024, over 33% were due to price changes in Section I. “Food and non-alcoholic drinks”.