Uzbekistan’s Inflation Slows to 5.5% in May 2026

Tashkent, Uzbekistan (UzDaily.com) — Annual inflation in Uzbekistan slowed to 5.5% in May 2026, down sharply from 8.7% recorded a year earlier, according to data released by the National Statistics Committee on 5 June.

Consumer prices rose by 0.2% month-on-month in May, compared with a 1.5% increase in the same month of 2025. Since the beginning of the year, the consumer price index (CPI) has increased by 2.7%, compared with 4.4% during January–May 2025.

The committee said the slowdown in annual inflation was largely influenced by a base effect. Higher tariffs for electricity, pipeline gas, liquefied gas and compressed natural gas introduced in May 2025 reduced the annual inflation comparison. Excluding fruit and vegetable prices, annual inflation stood at 5.8%, compared with 10.4% in May last year.

Food prices remained a major driver of inflation. The annual CPI for food products reached 106.7%, compared with 105.3% a year earlier.

Among the fastest-rising food categories in May, boneless beef increased by 3.6% month-on-month and 20.5% year-on-year, while bone-in beef rose by 2.9% and 19.0%, respectively. Lamb prices increased by 2.9% over the month and 22.8% over the year, while minced meat gained 2.0% and 15.8%.

The committee reported that both imported and domestically produced beef became more expensive during the month. Prices for imported beef increased by between 5,000 and 10,000 soums per kilogram, while domestic beef rose by 2,000–7,000 soums per kilogram.

Other food products also recorded price increases, including sugar, up 1.5% during the month, pasteurised milk, up 1.1%, fresh and chilled fish, up 1.0%, flour, up 0.9%, and vegetable oils, up 0.6%.

At the same time, prices declined for rice and groats, down an average of 1.6%, poultry meat, down 1.5–1.6%, and raw milk, down 0.8%.

Seasonal factors continued to influence fruit and vegetable markets. Lemon prices surged by 19.0% during the month and 86.6% compared with May 2025. Apples rose by 2.6%, while beetroot and carrots each increased by 1.6%.

Meanwhile, fresh cucumbers fell by 39.5%, tomatoes by 34.7%, eggplants by 23.6%, sweet peppers by 19.7%, garlic by 12.3%, and onions by 2.9%.

In the housing, utilities and energy category, annual inflation reached 6.3%. In May, cold water supply and sewerage tariffs increased in Jizzakh Region, contributing to a nationwide monthly rise of 0.8% for these services. Housing maintenance and repair materials rose by 0.8%, repair services increased by 0.8%, and residential rents climbed by 0.7%.

Transport-related costs also moved higher. Petrol prices increased by 0.6% month-on-month and 12.0% year-on-year. Prices for AI-92 gasoline rose by 0.6%, AI-95 by 0.8%, and AI-98 and AI-100 by 1.6%.

Propane prices increased by 1.9% during the month and 22.1% over the year, while methane prices rose by 0.2%. Parking services became 1.1% more expensive, and maintenance and repair services for private vehicles increased by 1.2%. Rental prices for electric scooters and bicycles rose by 6.2%.

Among passenger transport services, tram fares in Samarkand Region increased by 15.5%, taxi fares rose by 1.0%, and intercity bus fares increased by 1.0% in several regions.

By contrast, airfares fell by 1.3% and were 6.6% lower than a year earlier. Long-distance rail fares declined by 0.3%, which the committee attributed to changes in the soum’s exchange rate against the euro and Swiss franc.

Food and non-alcoholic beverages made the largest contribution to inflation since the beginning of the year, accounting for 1.53 percentage points, or 56.7% of the overall CPI increase. The combined contribution of all other categories amounted to 1.17 percentage points.

In May, food prices acted as a moderating factor, reducing the monthly CPI by 0.03 percentage points. Positive contributions came from clothing and footwear, housing and utility services, transport, and household goods.

Regional inflation rates remained relatively uniform. Annual CPI ranged from 105.0% in Ferghana Region to 105.8% in Kashkadarya Region. In Tashkent, annual inflation stood at 105.7%, while prices have risen by 2.9% since the beginning of the year.