Inflation expectations remain high in Uzbekistan, especially in major cities

Tashkent, Uzbekistan (UzDaily.com) — According to April surveys, inflation expectations in Uzbekistan have remained at 14.2% annually, as reported by the Central Bank of Uzbekistan.

The majority of respondents expect significant price increases for fuel, transport, and utilities, while fewer predict a significant rise in the value of foreign currency.

The highest inflation expectations are seen among residents of Tashkent, Ferghana, and Tashkent regions (ranging from 15.4% to 16.9% annually), while respondents from Navoi, Kashkadarya regions, and Karakalpakstan anticipate lower inflation (from 11.8% to 12.4%).

Inflation expectations are higher among people with monthly incomes above 5 million sums, while those with incomes between 3 million and 4 million sums provide the lowest forecasts.

Entrepreneurs surveyed by the Central Bank expect inflation at 12.8% annually, slightly lower than the 13% annual figure recorded in March 2025. Key concerns among entrepreneurs include rising utility tariffs, fuel prices, and tax burdens.

Moreover, the perceived inflation rate has risen to 14.4% annually, reflecting an increased sensitivity of the population to price changes for goods and services.