Average price level in the consumer market of Uzbekistan increased by 1.0% in September

Average price level in the consumer market of Uzbekistan increased by 1.0% in September

   In January-September 2022, the increase in prices in the consumer sector reached 8.1% with an average monthly value of 0.9%.

   In annual terms (relative to September 2021), the increase in consumer prices amounted to 12.2%.

   The leader in price growth for the month in September 2022 was food products, which increased in price by an average of 1.4%. Non-food products over the same period increased in price by 0.7%, paid services to the population increased in price by 0.4% over the month.

   In September this year, food products retained their leadership in price growth compared to the end of last year (10.0%) with an average monthly increase for January-September 2022 by 1.1%. Non-food products for the specified period rose by 7.9% with an average monthly increase of 0.9%. The increase in prices for paid services in January-September 2022 reached 4.8% with an average monthly value of 0.5%.

   The increase in food prices in annual terms in September 2022 reached 16.6%, providing the undisputed leadership of this group of goods. Non-food products, compared with September 2021, became more expensive by 10.9%, services - by 6.4%.

  Calculations show that in September this year, the key inflationary factor in the short term was the rise in food prices. With a general increase in their prices for the month by 1.4%, their contribution to the increase in the consolidated indicator reached +0.59 percentage points, which is about 57.3% of the total impact of the observed goods and services.

   The share of non-food products, which rose in price by 0.7% over the month, accounted for 23.3% of the total impact. Due to the increase in prices for goods in this group, the consolidated CPI for the month increased by 0.24 p.p.

   The contribution of price growth for services was the smallest among the three main groups and reached 0.20 p.p. (19.4%).

   As in the case of the short-term indicator, the dominant contribution to the growth of the consolidated CPI for September against December last year belongs to food products, which, having risen in price by an average of 10.0%, increased the consolidated CPI by 4.21 p.p.

   The increase in the consolidated CPI for September compared to September last year was most tangibly affected by the increase in food prices, which, having risen in price by an average of 16.6%, increased the consolidated CPI by 6.99 percentage points.

   In September 2022, of the main sections of COICOP 2018 of Uzbekistan, section XI “Restaurants and hotel services” (2.9%) became the leader in terms of price growth for the month.

   The top three in terms of price growth relative to December 2021 included sections XI. “Restaurants and hotel services” (15.2%), IX. “Recreation, sports and culture” (11.2%) and XIII. “Household goods and services, social protection and various goods and services” (11.0%).

   The leaders in terms of price growth in annual terms among the sections are restaurant services and hotel services (21.0%).

   Seasonal decline in prices for fruits and vegetables in September this year was recorded only in the group "Fruits and Nuts". Over the month, the goods of this group became cheaper by 1.7%. Vegetables, tubers and legumes became more expensive by 1.3% over the month.

   The most significant increase in prices over the month was noted for milk, dairy products and eggs (1.9%), meat products, cereals and cereals, sugar, confectionery and desserts (1.8%).

   The top three in terms of price growth in the first nine months of 2022 included cereals and cereals (26.5%), sugar, confectionery and desserts (23.9%) and oil and fat products (12.1%).

   A decrease in prices for this period was noted for fruits and vegetables, due to the influence of seasonality. Thus, compared to the end of last year, fruits and nuts became cheaper by 8.8%, vegetables, tubers and legumes - by 4.7%.

   In September 2022, cereals and cereals (31.7%), as well as sugar, confectionery and desserts (31.0%) hold the leading positions in terms of price growth in annual terms among the groups of section I "Food and non-alcoholic beverages". The least significant price increase against the level of September last year was noted for fruits and nuts (2.0%).

   In September 2022, of the main observed food products (excluding fruits and vegetables), the most significant increase in prices for the month was recorded for long-grain rice (3.8%). In terms of price increases relative to the end of 2021, granulated sugar and bread made from wheat flour of the 1st grade are leading by a significant margin (1.5 times). In annual terms, granulated sugar (by 1.6 times), wheat flour of the 1st grade, as well as bread from it (by 1.5 times) have risen in price more significantly than others

   The seasonal factor continues to have a decisive influence on the level of prices for fruits and vegetables. Tomatoes became the leader in price growth for the month (by 1.4 times). FOR INFORMATION in September 2021, cabbage (28.8%) went up more than others, and in September 2020, pomegranate (15.5%).

   The most notable decrease in prices over the month occurred for lemons (-8.0%) and grapes (-7.9%). For information in September 2021, prices fell more than others for grapes (-9.3%) and carrots (-8.0%), and in September 2020 - for tomatoes (-6.4%) and bell peppers (-6.3 %).

   In September 2022, compared to December 2021, prices increased most significantly for onions (by 1.7 times). The most notable decrease in prices was noted for eggplants, which became cheaper by 54.3% in the first three quarters of this year.

   Onion also leads in price growth in annual terms. Thus, in September 2022, compared to September 2021, its prices increased by 2.2 times. Carrots became the leader among the main types of fruits and vegetables in terms of price reduction compared to September 2021 (29.6%).

   Among the goods included in section I "Food and non-alcoholic beverages", the most significant contribution to the growth of the consolidated CPI was made by the increase in prices for meat products, cereals and cereals. The total contribution of these two groups reached +0.32 p.p. Price changes also had a tangible impact on milk, dairy products and eggs (+0.08 p.p.), vegetables, tubers and legumes (+0.06 p.p.), as well as sugar, confectionery and desserts (+0.05 p.p.). The seasonal decline in prices for fruits and nuts served as a deterrent, due to which the shortterm composite indicator decreased by 0.08 p.p.

   According to calculations, one of the key inflationary factors that influenced the growth of the consolidated indicator for January-September 2022 was the increase in prices for grain crops and cereal products. Due to the increase in prices for goods in this group, the consolidated CPI for January-September 2022 increased by 2.17 p.p.

   A significant contribution was made by price changes for meat and fat products, sugar, confectionery and desserts, dairy products and eggs (total contribution +1.99 percentage points). Due to the decrease in prices for fruits and vegetables, the consolidated indicator decreased by 0.59 p.p. by December 2021.

   Leadership in terms of contribution to the growth of the consolidated CPI in annual terms for September 2022 from the main groups of section I. "Food and non-alcoholic beverages" maintains price changes for grain crops and cereal products. Their contribution to the growth of the composite indicator reached 2.61 percentage points, which is 39.8% of the impact of food and non-alcoholic beverages, and 21.4% of the total impact of all goods and services.

   In September 2022, alcoholic beverages became more expensive by 1.2% over the month, including vodka - by 1.5%, beer - by 0.8%, cognac - by 0.6%, wine - by 0.5%. Tobacco products rose in price by 0.5% over the month, including cigarettes - by 0.6%, other tobacco products - by 0.3%. To the level of December 2021, alcoholic beverages increased in price by 8.0%, including vodka - by 9.1%, beer - by 7.6%, wine - by 5.3%, cognac - by 4.8%. Since the beginning of 2022, tobacco products have become more expensive by 6.3%, including cigarettes - by 6.2%, other tobacco products - by 6.4%. In annual terms, alcoholic beverages are leading in terms of price growth (11.4%), while tobacco products have become more expensive by 7.8%.

   In September this year, against the backdrop of rising prices for materials and services for the maintenance and repair of residential premises, the price situation in the field of public utilities remained stable.

    The most significant increase in prices for the month occurred in the group "Textile products used in the household" (1.1%). At the same time, finishing fabrics and curtains increased in price by 1.7%, bed linen and accessories - by 0.7%, table linen and bathroom linen - by 0.4%, sewing services for household textile products became more expensive by 1.0%. In general, during the first nine months, the prices of goods and services used in connection with housekeeping increased more than others (12.3%). The same group is leading in terms of price growth in annual terms (14.6%).

   In September 2022, the leader in price growth in this section was other healthcare services (4.0%), including medical laboratory services (4.1%), in the field of diagnostic imaging (3.6%). The leadership in price growth for January-September 2022 was shared by medicines and medical products, as well as other health services (11.0% each). Compared to September 2021, medicines and medical products, as well as outpatient treatment services (13.6%), went up more than others.

   From the goods and services of the "Transport" section in September of this year, services for the transportation of goods became the leaders in terms of price growth for the month. On average in the republic, they became more expensive by 11.7%, including courier services for the delivery of parcels - by 42.7%, other services for the transportation of goods - by 0.9%. The limiting factor was the decline in fuel prices for cars (within 1.3- 6.6%).

    This group also leads in terms of price growth compared to the end of last year (14.6%), and passenger transport services have risen in price least significantly in the first nine months (4.2%). The leadership in terms of price growth in annual terms also belongs to services for the transportation of goods (16.6%).

   Of the information and communication equipment, the most significant increase in prices over the month was for equipment for receiving, recording and reproducing sound and images (0.5%). Over the period since the beginning of the year, as well as in relation to September last year, peripheral equipment and its consumable components have risen in price more noticeably than others (by 6.3% and 8.1%, respectively).

   In September 2022, among services in the field of informatization, price increases were recorded only for complex telecommunications services (1.5%) and services for the repair of information and communication equipment (0.8%). The latter are also leaders in price growth in JanuarySeptember of the current year (9.3%) and in annual terms (13.0%).

   In September 2022, the highest price increases were recorded for stationery and drawing materials (1.9%), photography services and sports equipment (1.3%).

   In terms of price growth in JanuarySeptember 2022, stationery and drawing materials, as well as newspapers and periodicals, are in the lead (by 1.3 and 1.2 times).

   The same two groups of goods occupy leading positions in terms of price growth in annual terms, becoming more expensive, respectively, by 36.0% and 24.0%.

   The short-term price index in the field of preschool education in September of this year was formed under the influence of an increase in fees for attending private preschool educational institutions by children on average in the republic by 1.0%.

   In the field of higher education, an increase in tuition fees in nonstate universities on a contract basis was recorded (0.6%). Education, not divided into stages, became more expensive by 0.5% per month, including due to an increase in tuition fees by 0.8% for courses. The leader in price growth, both by December (7.7%) and September (10.3%) of the last year, were services for training in educational courses.

   In September of the current year, the cost of insurance and financial services did not change significantly compared to the previous month. At the same time, the price situation in the insurance services market has remained stable both since the beginning of 2022 and in annual terms. In January-September of the current year, the services of banking institutions became more expensive by 6.6%, the fee for money transfers increased by 0.7%, and the most significant price increase was recorded for money transfer services through electronic payment systems (17.7%). Leadership in price growth in annual terms is held by money transfer services through electronic payment systems (17.7%).

   In September 2022, among the main household goods and services, the first place in price growth for the month belongs to hairdressing services (2.3%), which also lead both in price growth by December (18.2%) and by September (26.8%) last year

    Among other items for personal use, umbrellas (1.0%), as well as school bags, including briefcases, knapsacks, backpacks (0.9%), went up the most during the month. Compared to December 2021, women's bags (8.6%) have risen in price more than others, and wedding rings (10.7%) in September 2021.

    Among other services, the largest increase in prices for the month was noted for photocopying services (1.7%). The same type of service leads in terms of price growth both by December (27.6%) and September (34.2%) of the previous year.

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