Uzbekistan raised the minimum consumer spending by 3.2%, from 648,000 to 669,000 soums per month. This benchmark, used to determine the poverty line, should have been updated in January.
Uzbekistan’s official inflation rate in 2024 reached 9.8%, exceeding the Central Bank’s projections, with a 1% increase recorded in December. Over the year, the cost of essentials like potatoes surged by nearly 40%, while gas tariffs more than doubled, and electricity prices rose by 70%.
Inflation rate in Uzbekistan made up 1.23% in September, slightly below last year’s figure. However, food, fuel, and service prices continued to increase sharply, with annual inflation holding steady at 10.46%, according to the Statistics Agency.
Inflation in Uzbekistan increased to 0.93% in April, with annual inflation exceeding 8%. This increase was influenced by the removal of the zero VAT rate on medicines and utilities, including water supply, heating, and sewage. Prices also rose for sugar, milk, flour, meat, and other goods.
Minimum expenditure basket in Uzbekistan, also used to determine the poverty line, has risen by 4.3%, from 621,000 soums to 648,000 soums (from $49 to $51) per month. This adjustment, the second this year, reflects the upcoming increase in gas and electricity tariffs from 1 May.
Uzbekistan’s gold exports amounted to $1.35 billion in March, with a cumulative export value of $2.66 billion since the beginning of the year, accounting for 41.7% of the country’s total export revenue.
Permanent population of Uzbekistan surpassed 37 million on April 22. Since the beginning of the year, the figure has grown by over 200,000 people, with an increase of more than 36,700 just in the ongoing month of April.
Uzbekistan saw an eight-year low inflation rate of 0.67% in March, with annual inflation dipping below 8%. Meat prices fell for the fifth consecutive month, the cost of milk, sugar, flour, potatoes, onions, carrots, gasoline, air travel, and rail transportation increased, the Statistics Agency says.
Population census in Uzbekistan is now scheduled for 2025−2026. Initially planned for 2022, it was postponed due to the pandemic. The results are expected to be published in 2027. Additionally, the Statistics Agency will start preparations for the agricultural census.
National statistical system of Uzbekistan aims to adopt UN principles of the National Quality Assurance Framework by the end of 2024. The Statistics Agency was directed to annually generate and publish indicators of minimum consumer expenditures and poverty level.
In late January, Uzbekistan’s gas production dropped 9.4% to 3.99 billion cubic meters from January 2023, though it remained higher than recent months. Oil, coal, gasoline, and diesel production also declined. The number of operational industrial enterprises decreased by 25,200.
China replaced Russia as Uzbekistan’s primary trading partner in 2023. Trade with both countries increased, with growing imports to Uzbekistan and decreasing exports. At the same time, trade with neighboring Kazakhstan and Kyrgyzstan declined.
Inflation in Uzbekistan made up 8.77% in 2023, lowest since 2016. During the year, rice price grew by 38.7%, meat by 9.3%, milk by 13.3%, eggs by 11.7%, sugar by 11%. Gasoline prices increased by 19.1%, propane (as car fuel) by 29.4%.
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