{"id":10623,"date":"2025-10-08T08:43:32","date_gmt":"2025-10-08T03:43:32","guid":{"rendered":"https:\/\/frank.uz\/bez-kategorii\/inflation-expectations-in-uzbekistan-decreased-to-12-focus-shifted-to-domestic-costs\/"},"modified":"2025-10-08T08:43:32","modified_gmt":"2025-10-08T03:43:32","slug":"inflation-expectations-in-uzbekistan-decreased-to-12-focus-shifted-to-domestic-costs","status":"publish","type":"post","link":"https:\/\/frank.uz\/en\/news-en\/inflation-expectations-in-uzbekistan-decreased-to-12-focus-shifted-to-domestic-costs\/","title":{"rendered":"Inflation expectations in Uzbekistan decreased to 12% \u2014 focus shifted to domestic costs"},"content":{"rendered":"<p><strong>Why is this important<\/strong><\/p>\n<p>Inflation expectations affect the real behavior of consumers, investors, and companies. Their stabilization is positive for monetary policy, but shifting the focus to domestic costs requires new solutions from regulators. <\/p>\n<p><strong>What happened<\/strong><\/p>\n<ul>\n<li>The population expects inflation at <strong>12%<\/strong> (\u22120.2 p.p. by August), businesses \u2014 <strong>11.7%<\/strong> (\u22120.1 p.p.).<\/li>\n<li>The share of those concerned about <strong>exchange rates<\/strong> decreased from 55% (Dec. 2024) to <strong>24%<\/strong> in September. For businesses \u2014 from 52% to <strong>22%<\/strong>. <\/li>\n<\/ul>\n<p><span style=\"text-decoration: underline;\">The following came to the forefront:<\/span><\/p>\n<ul>\n<li><strong>The rise in utility costs<\/strong> concerns 46% of the population and 44% of businesses.<\/li>\n<li>Increase in <strong>fuel and energy prices<\/strong> \u2014 41% of respondents<\/li>\n<li><strong>Raw material<\/strong> price increases \u2014 26% of entrepreneurs are concerned (growth from 24%).<\/li>\n<\/ul>\n<p><span style=\"text-decoration: underline;\">The main daily inflation triggers are:<\/span><\/p>\n<ul>\n<li>Increase in the price of <strong>meat and dairy products<\/strong> \u2014 57% (+5 p.p.)<br \/>\n<strong>Rent<\/strong> increase \u2014 from 13% to 16%<\/li>\n<\/ul>\n<p><span style=\"text-decoration: underline;\">By social groups:<\/span><\/p>\n<ul>\n<li>Pensioners experience inflation more strongly \u2014 14.3%<\/li>\n<li>Residents of Tashkent \u2014 13.9%<\/li>\n<li>People with income above 30 million soums \u2014 up to 16.9%<\/li>\n<li>Optimism \u2014 among agrarians (11.4%) and in Khorezm (10.8%)<\/li>\n<\/ul>\n<p><strong>What they say<\/strong><\/p>\n<p>The Central Bank believes that inflationary expectations \u201cdemonstrate signs of stabilization\u201d. Analysts note a <strong>structural shift<\/strong>: now inflation is perceived as a result of internal problems \u2014 tariffs, logistics, raw materials. <\/p>\n<p><strong>Context<\/strong><br \/>\nStabilizing inflation expectations is a key factor in easing monetary policy. However, internal factors (tariffs, rent, energy resources) are increasingly dominating, reducing the impact of external economic improvements. Regulators will have to take these structural shifts in inflation drivers into account when adjusting rates and budgeting.  <\/p>\n","protected":false},"excerpt":{"rendered":"<p>In September, inflationary expectations of Uzbek citizens and businesses decreased. This is a stabilization signal, but the anxiety persists due to rising domestic spending. <\/p>\n","protected":false},"author":4,"featured_media":10613,"comment_status":"open","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"_sharing_image":{"poster":"https:\/\/frank.uz\/wp-content\/uploads\/2025\/10\/68e5e1dc96de8.jpg","width":1200,"height":630,"template":"2bf59057","mode":"auto"},"_sharing_image_fieldset":{"Dv78f24rp1hU":10613,"YlB8HH34jIzY":"Inflation expectations in Uzbekistan decreased to 12% \u2014 focus shifted to domestic costs"},"pin_until":"","footnotes":""},"categories":[2061],"tags":[2081,2118,2218,2154],"class_list":["post-10623","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en","tag-cb","tag-economics","tag-energy","tag-inflation"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.0 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Inflation expectations in Uzbekistan decreased to 12% \u2014 focus shifted to domestic costs &#8212; Frank.uz<\/title>\n<meta name=\"description\" content=\"In September, inflationary expectations of Uzbek citizens and businesses decreased. 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