n April 2026, the consolidated Consumer Price Index (CPI) in the Republic of Uzbekistan amounted to 100.6% month-on-month, 102.5% since December 2025, and 107.0% year-on-year. For comparison, annual inflation stood at 10.1% in April 2025, indicating a notable slowdown in consumer price growth across the economy.
The April data confirms the formation of a more balanced inflationary environment. Despite localized price fluctuations within the food segment, overall inflationary pressure remains under control. Particularly indicative is the decline in annual CPI excluding fruit and vegetable products to 7.6%, compared to 12.3% a year earlier.
The main contribution to monthly price growth traditionally came from the “Food and Non-Alcoholic Beverages” category. Its impact on the consolidated CPI amounted to 0.37 percentage points, or 62.7% of the total increase. At the same time, price growth remained largely concentrated in specific meat product categories. In particular, lamb prices increased by 3.7% during the month, beef by 3.2%, and sugar by 2.2%. Meanwhile, prices declined for several socially significant products: eggs fell by 3.6%, rice by 1.1%, and poultry meat by 1.2–1.3%.
Seasonal price adjustments were also evident in the fruit and vegetable segment. Significant declines in the prices of fresh cucumbers (-26.1%), onions (-2.7%), tomatoes (-2.4%), and cabbage (-2.4%) partially offset increases in potatoes, apples, and bell peppers. This trend indicates the continued functioning of market balancing mechanisms within the domestic food market.
An important factor supporting macroeconomic stability remains the moderate price dynamics in the services sector. In April, CPI for services reached only 100.4% month-on-month versus 101.0% a year earlier. At the same time, annual service inflation slowed to 12.0% compared to 26.1% in April 2025. This represents one of the clearest indicators of weakening secondary inflationary effects within the economy.
In the housing and utilities sector, April saw no large-scale tariff adjustments. Price increases were recorded mainly for household waste collection services (+2.4%), while other changes remained moderate. Such dynamics contributed to maintaining overall price stability in коммунal services.
The transport sector also demonstrated relatively restrained dynamics. Fuel prices rose by 1.4% during the month, while propane prices declined by 2.8%. At the same time, regional inflation remained stable, with no significant deviations recorded across the country’s regions. Annual CPI across most regions remained within the range of 106.3–107.4%.
Another positive signal is the continued improvement of statistical methodology. Since January 2026, the National Statistics Committee has expanded the monitored basket to 517 goods and services and introduced additional analytical tools, including CPI calculations using the geometric Young formula in line with IMF expert recommendations. This strengthens the quality of inflation monitoring and enhances the transparency of the country’s statistical system.
Overall, the April data indicates that Uzbekistan continues to maintain macroeconomic stability while gradually transitioning toward a more moderate inflation trajectory. Against the backdrop of slowing annual inflation, stabilization in the services sector, and the absence of significant regional imbalances, the economy is demonstrating increasing predictability in the price environment — one of the key prerequisites for investment activity and long-term economic growth.
Source: National Statistics Committee of the Republic of Uzbekistan