Saturday, 25, May, 2024

Uzbekistan inflation rate reached 7.8% in nine months, which is by 2.2 percentage points higher than last year, the Central Bank of Uzbekistan (CBU) said.

The average increase in consumer prices in this period was at 7.6% (in January-September 2016 - minus 3.3%), non-food products at + 8.6% (+ 6.4%), paid services at +7% ( + 7%).

The inflation, along with monetary factors, was caused by traditional seasonal fluctuations and supply factors.

CBU decided to keep the interest rate unchanged - at 14% per annum "with an aim to preserve the return on assets in the national currency, ensure the positivity of real interest rates and prevent the growth of money supply in the economy."

The interest rate was raised at the end of June from 9% per annum, due to the need to limit the increased inflationary risks.


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