Why is this important
- inflation in Uzbekistan in August amounted to 8.8% per annum, slightly lower than the July figure of 8.9%;
- a decrease in basic inflation and a slowdown in the growth of food and non-food prices create conditions for maintaining a tight monetary policy;
- maintaining the rate at the current level is important for maintaining confidence in economic policy and maintaining inflation expectations.
What happened
- annual inflation in August decreased to 8.8% from 8.9% in July;
- In August, the monthly inflation growth was +0.4%, while in June-July there was a slight monthly decline;
- the decision to maintain the rate was made under conditions of prolonged high consumer demand and corresponding economic activity.
Context
reducing inflation is not a fast process, it depends on a number of internal and external factors, including global prices for products and energy. The influence of seasonal factors and a stable exchange rate is also important, which helps to contain inflationary expectations. External trade, import prices, and global market forecasts can also complicate the task of price reduction.
