BAKU, Azerbaijan, Mar. 11
By Klavdiya Romakayeva - Trend:
The most significant increase in prices in Uzbekistan account for food products, medicines, utilities and gasoline, Trend reports with reference to the Central Bank of Uzbekistan (CBU).
According to the data price for sugar increased by 3.7 percent, for vegetable oil - 3 percent, for poultry - 5.7 percent, for fruits - 5 percent, for vegetables - 3.2 percent.
At the same time, business entities noted an increase in prices for raw materials, transport and utilities as the main factors in the growth of production costs.
The CBU also noted that risks remain associated with the possibility of one-off inflationary factors, as well as a faster recovery in demand in the context of a relative limited supply of goods and services, introduction of quotas and duties on the export of certain types of food by countries exporters of basic food products.
“At the same time, there is a likelihood of the transfer of increases in fuel and transportation costs to commodity prices, as well as the pro-inflationary impact of higher excise taxes on certain types of goods and seasonal increases in food prices, between the depletion of stocks and the arrival of a new crop on the markets,” the message said.
The CBU added that significant growth is expected in the coming months in the construction sector compared to last year, which may serve as a factor in the growth of prices for cement and other building materials,” the CBU added.
Following the baseline forecast of the CBU, inflation will slow down to 9-10 percent by the end of 2021.
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