Tashkent, Uzbekistan (UzDaily.com) — In May 2025, the Consumer Price Index (CPI) on an annual basis decreased to 108.7% compared to 110.1% in April of the current year, according to the National Statistics Committee.

The consolidated CPI for the month amounted to 101.5%, and relative to December 2024, it reached 104.4%.

The average monthly growth of the consolidated CPI for January–May 2025 was 0.9% (compared to 0.7% for the same period in 2023 and 1.1% in 2024).

The monthly price index increase above the national average was recorded in the Republic of Karakalpakstan, as well as in the Fergana and Khorezm regions.

The annual CPI for May 2025 exceeded the national average in the Kashkadarya, Fergana, and Khorezm regions, as well as in the city of Tashkent.

In May of this year, the short-term CPI for goods amounted to 100.2% (compared to 100.5% in May 2023 and 99.0% in May 2024).

The CPI for food products over the month was recorded at 99.2% (100.5% in May 2023 and 98.0% in May 2024).

The short-term CPI for non-food products in May of this year was 101.7% (100.5% in May 2023 and 100.3% in May 2024).

The CPI for services in May was significantly higher than for goods, reaching 105.9% (100.5% in 2023 and 115.2% in 2024). This situation is largely associated with the implementation of a tariff increase stage in the utilities sector.

The CPI for goods in May 2025 relative to December 2024 reached 102.8% (compared to 101.1% in January–May 2024), including food products at 102.8% (versus 100.0% in January–May 2024).

Non-food products from January to May 2025 rose slightly more than food products. The CPI for non-food goods relative to December 2024 reached 102.9% (compared to 102.5% in January–May 2024).

The CPI for services for January–May 2025 was 109.8% (compared to 120.0% in January–May 2024).

The annual CPI for goods in May 2025 was recorded at 106.5% (105.6% in May 2024).

The annual CPI for food products increased by 1.1 percentage points from May 2024 (104.2%) to May 2025, reaching 105.3%. The annual CPI for non-food goods in May 2025 was 108.2% (versus 107.5% in May 2024). Despite the decrease in the annual CPI for services (115.9% in May 2025 compared to 127.0% in May 2024), it remains high compared to other groups. As noted above, the key inflationary factor in this group is the effect of tariff liberalization in the utilities sector.

The range of the short-term CPI by categories varied from 99.1% (“Food and non-alcoholic beverages”) to 110.7% (“Housing services, water, electricity, gas, and other fuels”). The consolidated monthly price index (101.5%) was exceeded in the categories “Housing services, water, electricity, gas, and other fuels” (110.7%), “Transport” (105.2%), and “Information and communication” (101.6%). The upper bound of the CPI relative to December 2024 reached 112.0% (“Housing services, water, electricity, gas, and other fuels”), while the lower bound was 100.2% (“Insurance and financial services”). The range of the annual CPI in May 2025 was between 101.4% (“Insurance and financial services”) and 117.4% (“Transport”).

The short-term CPI in May was influenced by price changes in the following categories: Section IV, “Housing services, water, electricity, gas, and other fuels.” Starting May 2025, updated tariffs for electricity and network gas for the population came into effect. On average nationwide, electricity prices increased by 18.8% (overall weight 2.4%, contribution to monthly CPI growth +0.45 percentage points), and network gas rose by 39.2% (overall weight 1.5%, contribution +0.60 percentage points).

The price of liquefied gas for household needs increased by 25.0% from May of this year (weight 0.5%, contribution to monthly CPI growth +0.11 percentage points). In the Kashkadarya and Fergana regions, fees for cold water supply and sewage services were raised. Considering tariff stability in other regions, the CPI for this type of service over the month reached 110.2% (contribution +0.10 percentage points). Section VII, “Transport,” saw the most significant price increase for methane used as vehicle fuel, which rose by 27.0% during the month (weight 1.7%, contribution to CPI growth +0.45 percentage points). Prices for gasoline and propane in May decreased by 0.1–2.7%. The CPI for passenger transport services for the month was 101.0%. Road transport services increased by 2.4%, rail transport by 0.1%. Meanwhile, passenger airfares became cheaper by an average of 5.4%, related to Uzbekistan Airways updating its tariff structure for economy class on domestic routes.

Section VIII, “Information and communication,” recorded CPI growth linked to a 2.9% average increase in mobile communication tariffs among monitored operators. Section I, “Food and non-alcoholic beverages,” saw the average price level decrease by 0.9% over the month, exerting a restraining effect on the consolidated CPI. The main price declines were registered for vegetables, tubers, and legumes (-10.7%) due to market saturation with new harvest products. Among key vegetables, price decreases were noted for cucumbers (-61.1%), tomatoes (-27.1%), cabbage (-14.0%), potatoes (-1.9%), and onions (-1.2%), while carrots rose by 15.0%. Vegetable oil prices increased by 4.0%, granulated sugar by 2.2%, and meat product prices stabilized. Price increases for beef and lamb did not exceed 0.8%, while poultry meat slightly decreased by 0.3–0.5%. Additionally, prices for eggs (-4.0%), rice (-0.5%), and fresh milk (-0.2%) declined. Price changes in other categories were less significant.

The most substantial contribution to the growth of the short-term consolidated CPI in May 2025 came from price changes in the category “Housing services, water, electricity, gas, and other fuels,” which raised the consolidated CPI by 1.29 percentage points.

Price changes in the categories “Transport” and “Information and communication” collectively increased the consolidated index by 0.53 percentage points for the month. The decline in the average price level in the category “Food and non-alcoholic beverages” reduced the CPI by 0.38 percentage points. The impact of other categories was less significant.

Regarding the CPI relative to December 2024, one of the key factors was the increase in utility tariffs (+1.46 percentage points, or 33.0% of the total growth). Price increases for food and non-alcoholic beverages accounted for approximately 26.7% of the total growth in the consolidated index for January–May 2025. The transport sector accounted for 18.1% of the total increase. Contributions from other categories were less substantial.