Annual Inflation in Uzbekistan Falls to 8.7% in May, Lowest in Year

Uzbekistan’s annual inflation rate declined to 8.7% in May, down from 10.1% in April. The State Statistics Agency published the update in its monthly inflation report.

This marks the lowest year-on-year inflation recorded over the past 12 months.

Monthly inflation, however, accelerated to 1.5% — more than twice the 0.7% rate seen in April.

Over the first five months of 2025, consumer prices rose by 4.4%, averaging 0.9% per month. For comparison, the monthly average stood at 0.7% in 2023 and 1.1% in 2024.

Food prices fell by 0.8% month-on-month in May. The drop reflects seasonal supply increases following the new harvest. Despite this, annual food inflation reached 6.5%, nearly one percentage point above last year’s level.

Prices for industrial goods rose by 1.7% on a monthly basis and 8.2% year-on-year.

Energy prices recorded the sharpest increases. Household liquefied gas prices jumped by 25%, while methane fuel for vehicles increased by 27%.

The services sector saw the highest overall price growth. Service costs rose by 5.9% in May and 15.9% over the year. Key contributors were an 18.8% rise in electricity tariffs and a 39.2% increase in gas prices.

Transport costs rose by 1% month-on-month. Road transport increased by 2.4%, while rail fares edged up by 0.1%. Domestic airfares fell by 5.4% after Uzbekistan Airways introduced a revised pricing structure.