Tashkent, Uzbekistan (UzDaily.com) — In August 2024, the composite Consumer Price Index (CPI) for the month was recorded at 0.5%. This information was reported by the Agency of Statistics of Uzbekistan.

For January-August 2024, the cumulative CPI reached 5.5%. Year-on-year (compared to August 2023), this indicator stood at 10.5%.

In August 2024, the CPI for goods was 100.6% for the month, and 100.4% compared to December 2023.

On a year-on-year basis, the CPI for goods was 105.3%, which is 3.8 percentage points lower than the corresponding figure for August 2023.

The short-term CPI for services in August 2024 was 100.4%, which is 0.1 percentage points lower than the previous month and 0.3 percentage points lower than August of the previous year.

For January-August 2024, the CPI for services reached 122.2%, compared to 127.6% in August 2023.

In August 2024, the short-term CPI for food products was 100.5%, for non-food products it was 100.7%, and for paid services it was 100.4%.

For January-August 2024, the CPI for food products was 97.2%, for non-food products it was 104.7%, and for services it was 122.2%.

Year-on-year CPI for August 2024 for food products was 102.8%, for non-food products 108.6%, and for services 127.6%.

Price changes in fruits and vegetables have acted as a dampening factor for both the composite CPI and the CPI for food products.

Specifically, excluding fluctuations in fruit and vegetable prices, the composite CPI for the month was 0.4 percentage points higher, for January-August it was 2.9 percentage points higher, and year-on-year it was 2 percentage points higher than the composite CPI including all goods and services.

Services continue to dominate in the structure of contributions to the composite CPI growth, both compared to December and August of the previous year.

The share and contribution of each category to the growth of the composite index are assessed taking into account price changes and the weight of the category in the structure of consumer expenditures.

In August 2024, the range of short-term CPI by categories was from 100.00% (Category XII: "Insurance and Financial Services") to 101.5% (Category VII: "Transport").

Short-term CPI was lower than in August of the previous year in Categories I: "Food and Non-Alcoholic Beverages," IV: "Housing, Water, Electricity, Gas, and Other Fuels," XII: "Insurance and Financial Services," and XIII: "Household Goods and Services, Miscellaneous Goods and Services."

In other categories, the short-term CPI for August 2024 was higher than the corresponding figure for August of the previous year.

For January-August 2024, the CPI range by categories was from 96.8% (Category I: "Food and Non-Alcoholic Beverages") to 136.0% (Category IV: "Housing, Water, Electricity, Gas, and Other Fuels"). In addition to Category I, price decreases over the eight months of the current year were also noted in Category VIII: "Information and Communication," where the CPI compared to December 2023 was 98.9%.

In August 2024, the annual CPI range by categories was from 99.0% (Category VIII: "Information and Communication") to 140.4% (Category IV: "Housing, Water, Electricity, Gas, and Other Fuels").

Significantly lower than in August 2023 were the annual CPI values for August 2024 in Categories I: "Food and Non-Alcoholic Beverages" (102.3% vs. 110.0%) and XI: "Restaurants and Hotel Services" (112.9% vs. 124.8%).

The range of short-term CPI for August 2024 within Category I was from 90.2% to 105.0%.

The CPI for the month was below 100.0% in the groups "Fruits and Nuts" (90.2%) and "Fish and Other Seafood" (99.8%).

The CPI for food products and non-alcoholic beverages (Section I) in August 2024 showed a varied performance across different sub-categories.

Above the average CPI for Section I (100.4%), the following groups recorded higher values: "Meat Products" (103.9%), "Milk, Other Dairy Products, and Eggs" (100.7%), "Oils and Fats" (102.1%), "Vegetables, Tubers, and Legumes" (105.0%), "Sugar, Confectionery, and Desserts" (100.5%), and "Non-Alcoholic Beverages" (100.6%).

For January-August 2024, the CPI for major groups within Section I ranged from 76.9% (for "Vegetables, Tubers, and Legumes") to 106.5% (for "Non-Alcoholic Beverages").

In August 2024, the average price levels for oil and fat products, dairy products, and fruits and vegetables were lower compared to December 2023.

Except for "Oils and Fats," "Prepared and Other Food Products," and "Non-Alcoholic Beverages," the CPI for January-August 2024 was lower than the corresponding period in 2023.

In August 2024, the annual CPI for the groups within Section I ranged from 82.5% (for "Vegetables, Tubers, and Legumes") to 108.6% (for "Non-Alcoholic Beverages").

In August 2024, average price levels in the "Oils and Fats" and "Vegetables, Tubers, and Legumes" groups were lower compared to the same month in the previous year.

Except for the "Oils and Fats" group, the annual CPI for August 2024 was lower compared to August 2023.

The annual CPI was lower than the average for Section I in the following groups: "Milk, Other Dairy Products, and Eggs," "Oils and Fats," "Fruits and Nuts," and "Vegetables, Tubers, and Legumes."

In August 2024, price reductions were noted in Section I for items such as wheat flour of the highest and first grades (0.5-0.8%), mayonnaise (-0.4%), live, fresh, or chilled fish (-0.3%), fresh milk and marmalade (-0.2%), and granulated sugar (-0.1%).

Significant price increases for the month in this section were observed for food items such as beef and lamb (average increase of 4.9-5.3%), minced meat (+3.6%), cottonseed (+3.9%) and sunflower oil (+1.9%), and eggs (+1.9%).

The range of short-term CPI for fruit and vegetable products in August 2024 varied from 66.9% (watermelons) to 199.1% (pumpkins). These fluctuations were due to seasonal factors and the cyclic nature of market saturation with new harvest products.

Compared to December 2023, significant price decreases were observed for cucumbers, eggplants, tomatoes, watermelons, and bell peppers. In contrast, prices for carrots, beets, and potatoes increased by 9.4-11.6% during this period.

The year-on-year CPI fluctuations for August 2024 ranged from 48.8% (cabbage) to 162.9% (pomegranate). Compared to August 2023, the most significant price decreases were observed for cabbage, cucumbers, melons, onions, eggplants, and carrots.

In August 2024, the seasonal decrease in fruit and nut prices acted as a dampening factor, reducing the composite index for the month by 0.54 percentage points.

The contribution to the short-term CPI growth in Section I from meat products and vegetables, tubers, and grains was a total of +0.60 percentage points. The impact of other groups was less significant.

Among the goods in Section I, price changes in fruit and vegetable products, oils and fats, and dairy products (totaling -2.36 percentage points) had a reducing effect on the composite CPI for August 2024 compared to December 2023.

Conversely, price increases for meat products, non-alcoholic beverages, sugar, confectionery and desserts, and cereals and grain products contributed a total of +0.92 percentage points to the composite CPI. The impact of other groups was less significant.

The most significant contribution to the annual CPI growth for August 2024 came from price changes in cereals and grain products, meat products, sugar, confectionery and desserts, and non-alcoholic beverages, totaling +1.69 percentage points.

In August 2024, the short-term Consumer Price Index (CPI) fluctuations in Section II, "Alcoholic Beverages and Tobacco Products," ranged from 100.0% (for other tobacco products) to 101.2% (for cigarettes). Notably, the primary contribution to the increase in the short-term CPI for this section (over 87% of the total influence of the goods within the section) came from price changes in cigarettes and vodka, which together accounted for a total of 0.68 percentage points out of the overall CPI increase of 0.78 percentage points for the section.

In Section III, "Clothing and Footwear," the short-term CPI range in August 2024 varied from 99.6% (for women’s hosiery) to 101.9% (for men’s shorts and summer trousers). The most significant impact on the CPI growth for this section for the month came from price changes in outerwear and footwear, including boots, shoes, and other types of footwear.

For Section IV, "Housing, Water, Electricity, Gas, and Other Fuels," the upper limit of the short-term CPI in August 2024 reached 102.0% (for apartment maintenance fees). Rates for major utility services remained stable throughout the month, except for heating and hot water supply. The cost of hot water supply and heating increased in August due to updated tariffs in the Khorezm region, while rates in other regions remained unchanged from the previous month.

In Section V, "Household Goods, Household Appliances, and Current Housing Maintenance," the short-term CPI for August 2024 ranged from 99.9% (for cleaning agents) to 101.6% (for lighting equipment). The most significant influence on the CPI growth for this section for the month came from price changes in furniture and household items, as well as household appliances.

In Section VI, "Health Care," the short-term CPI reached up to 101.3% in August 2024 (for therapeutic massage and antiseptic medicines). Medicines increased in price by 0.6-1.3% over the month, while medical masks and gloves rose by 0.9%. The price increase for other goods and services in this section was less substantial. Medicines accounted for over 70% of the short-term CPI increase in this section.

In August 2024, an increase in the price of automotive gas was observed. The price of propane at filling stations rose across all regions, ranging from 300 to 1800 sums. The range of the average price increase across regions was between 110.8% and 129.9%.

Methane prices increased by 4.0% over the month, while gasoline prices slightly decreased by 0.2%. Additionally, there was a rise in tuition fees for driving courses, averaging a 5.8% increase.

The average price level and tariffs for information and communication services showed a slight increase during August 2024. The short-term CPI for this sector in August was 100.7%. This section is the only one where the CPI for August this year, on an annual basis, fell below 100.0%.

In August 2024, the short-term CPI for wired internet services reached 104.2%, for integrated telecommunication services 101.1%, and for repair services of information and communication equipment 100.6%. Prices and tariffs for other goods and services in Section VIII remained unchanged.

In Section IX, "Recreation and Culture," the short-term CPI ranged from 97.5% (for school notebooks) to 102.2% (for museum services). Besides notebooks, a price decrease of 0.1-0.6% was also recorded for A4 paper and art paints.

Gym memberships and sports sections increased by 1.4% over the month, and visits to cultural and recreational parks became more expensive by 1.3%. Other goods and services saw less significant price increases.

Throughout August, the educational sector did not experience sharp price changes. Private early childhood education services increased by 0.5%, educational courses became 1.4% more expensive, and tutoring services rose by 1.8%. Prices for other types of services remained at the previous month’s level.

In August, Section XI, "Food and Beverage Services," saw price increases only in food and beverage services, where the CPI for the month was 101.5%. The index for café services was 101.2%, for canteens 101.7%, and for fast food establishments 101.3%.

According to calculations considering the share of household consumption, more than half of the increase in the CPI for food and beverage services over the month was due to the rising cost of lunches in canteens.

The average price level for insurance services in August remained unchanged compared to both the previous month and August and December 2023. Financial services also maintained price stability throughout August 2024. A slight 0.1% decrease in the cost of money transfers did not significantly impact the CPI for financial services. Prices for other types of services in August were at the previous month’s level.

In Section XIII, "Miscellaneous Goods and Services," the short-term CPI for August 2024 ranged from 99.8% (for deodorants) to 102.4% (for wedding rings). Ahead of the new school year, there was an increased demand for school bags, portfolios, and backpacks, with the CPI for these items reaching 101.0% for the month.

The short-term CPI for women’s and men’s hairdressing services in August was 101.5% and 101.1%, respectively. The price increases for other goods and services in Section XIII were less significant and did not exceed one percentage point.

The most significant contribution to the change in the overall CPI for the month came from price changes in food products and non-alcoholic beverages, as well as in the transportation sector. The combined contribution of these sectors increased the overall CPI for August of the current year by 0.32 percentage points, accounting for 60.2% of the total increase.

Housing services, water, electricity, gas, and other fuels remain the sectors with the greatest impact on the overall CPI growth since the beginning of the year. Significant contributions to the increase also came from price changes in healthcare and transportation.

A decrease in the average price level for food products and non-alcoholic beverages acted as a dampening factor, allowing the overall CPI to be 1.36 percentage points lower compared to December 2023.