TASHKENT, Uzbekistan, July 25. The Central Bank of Uzbekistan (CBU) expects the headline inflation to reach 9 percent at the end of the year, Trend reports.
According to the CBU, the inflation projection has been revised down due to the lower-than-expected core inflation and weaker inflationary risks this year.
“Core inflation continued its downward trend, reaching 5.9 percent in June and decreasing by 2.6 percentage points since the beginning of the year. This indicates that the secondary effect of energy tariff changes was lower than expected, contributing to the overall decline in inflation,” the bank emphasized.
At the same time, the proinflationary risks have diminished, partly due to the reduced impact of external market price dynamics on imported inflation and the decline in persistent inflation components.
The bank also noted that the headline inflation is expected to approach the 5 percent target by the end of 2025.
Earlier in April, the bank projected the core inflation to amount to 7-8 percent by the end of the year and headline inflation under the main scenario to 9–11 percent.