In February 2026, inflation dynamics in Uzbekistan remained moderate in terms of the aggregate indicator, although significant unevenness persisted within the consumer basket. According to the National Committee of the Republic of Uzbekistan on Statistics, the aggregate CPI stood at 100.6% for the month, 101.3% since the beginning of the year, and 107.3% year-on-year. For comparison, in February 2025 these figures were 100.5%, 101.3%, and 110.1%, respectively. Excluding changes in fruit and vegetable prices, the aggregate CPI was 100.5% for the month, 101.1% for January–February 2026, and 108.3% year-on-year.
The main price pressure in February once again came from the food segment. Among core food products, mutton rose by 2.6%, boneless beef by 1.6%, beef with bones by 1.6%, poultry by 1.4–1.8%, sugar by 2.2%, sausage products by 0.9–1.0%, eggs by 0.7%, raw milk by an average of 0.4%, flour by 0.5%, and vegetable oils by an average of 0.4%. The report separately notes that price changes were recorded for both imported and domestically produced beef, while the average price of 1 kilogram of beef across the country increased by 500 to 2,000 soums.
At the same time, prices declined for a number of food items. Over the month, rice and broken rice fell by an average of 0.9%, green tea by 0.3%, ready-to-eat breakfast cereals by 0.5%, and marmalade by 0.2%. This shows that the February trend in the food segment was not one-directional: growth in meat and part of the basic food basket was accompanied by declines in selected grocery and ready-made food items.
Substantial volatility persisted in the fruit and vegetable group. The strongest monthly increases were recorded for tomatoes at 12.1%, pumpkins at 11.7%, potatoes at 5.0%, bell peppers at 4.2%, apples at 4.1%, lemons at 3.6%, bananas at 3.0%, and both carrots and cabbage at 1.8%. At the same time, prices declined for fresh cucumbers by 13.8%, mandarins by 5.6%, oranges by 5.4%, beetroot by 1.7%, and onions by 0.9%. This means that food inflation in February was driven not only by meat products, but also by pronounced fluctuations within the fruit and vegetable category.
In the division covering housing services, water, electricity, gas, and other fuels, the main factor was higher fees for household waste removal in a number of regions. Against the backdrop of stable tariffs for the main utility services, this particular service became 4.7% more expensive on average across the country over the month and 32.6% more expensive year-on-year. Housing rent increased by 0.5% over the month, while materials and services for the maintenance and repair of residential premises rose by an average of 0.4%. On a year-on-year basis, this division posted one of the highest indices among the major categories at 117.5%.
In healthcare, price growth was more even. Outpatient treatment and rehabilitation services rose by 1.1% over the month, diagnostic imaging services by 0.8%, inpatient treatment by 0.6%, and medicines and medical products by 0.4%. By the end of February, the “Healthcare” division index stood at 100.6% relative to January 2026, 101.2% relative to December 2025, and 105.2% relative to February 2025.
The transport division showed mixed dynamics. The average consumer price level for gasoline declined by 0.5% over the month. AI-92 gasoline fell by 0.5%, AI-95 by 0.7%, while AI-98 and AI-100 increased by 0.3%. Propane rose in price by 1.9%, with the upper price cap reaching 8,500 soums per liter. Methane prices changed only marginally, by 0.1%, but remained 30.3% above the level of February 2025. Additional pressure came from technical maintenance and repair services for personal vehicles, as well as passenger transportation services: the average price of long-distance rail travel on the observed routes rose by 14.0%, while airfares increased by 4.4%. On a year-on-year basis, the “Transport” division index reached 110.9%.
In the division “Household goods and services, miscellaneous goods and services,” the statistics recorded a wide range of price movements within the category. In February, the upper bound of the short-term CPI reached 101.5% for wedding rings made of precious metals, while the lower bound was 99.8% for other personal-use appliances, articles, and goods not classified elsewhere. For the annual CPI, the range was from 132.1% to 100.3%, with the lower bound recorded for toothbrushes. In the remaining divisions, price changes were either less significant or had no material impact on the aggregate indicator.
Looking across the COICOP-based divisions used in the Uzbek classification, the most noticeable monthly increase was recorded in “Food products and non-alcoholic beverages,” where the index reached 101.0%. This was followed by “Healthcare,” “Restaurants and hotels,” and “Household goods and services, miscellaneous goods and services,” each at 100.6%. The division “Housing services, water, electricity, gas, and other fuels” posted 100.5%, and “Transport” also stood at 100.5%. On a year-on-year basis, the highest values were recorded in “Insurance and financial services” at 140.3%, “Housing services, water, electricity, gas, and other fuels” at 117.5%, “Transport” at 110.9%, “Information and communication” at 110.0%, “Restaurants and hotel services” at 108.4%, and “Household goods and services, miscellaneous goods and services” at 108.0%.
The regional picture remained broadly stable. The report explicitly states that no major deviations from the national average were recorded across regions for either the short-term or annual aggregate CPI. On a monthly basis, the highest readings were observed in Kashkadarya and Navoi regions, both at 100.9%. On an annual basis, the highest figure was recorded in Fergana region at 107.8%, while the lowest was in Jizzakh region at 106.7%. In Samarkand region, the annual CPI stood at 107.3%; in Tashkent region, 106.9%; in the city of Tashkent, 107.1%; and in the Republic of Karakalpakstan, 107.6%.
By major groups of goods and services, the inflation structure looked as follows. In February 2026, the CPI for all goods was 100.6% for the month, 101.3% since the beginning of the year, and 105.6% year-on-year. For food products, the index was 100.9% for the month, 101.7% since the beginning of the year, and 105.9% year-on-year. For non-food products, the respective figures were 100.2%, 100.7%, and 105.2%. For services, the index amounted to 100.6% for the month, 101.4% since the beginning of the year, and 113.3% year-on-year. Services thus remained the major group with the highest annual growth rate, although this was noticeably below the 127.1% level recorded in February 2025.
The contribution structure of the divisions to changes in the aggregate CPI again confirms the dominant role of food in February inflation. The largest impact on the short-term aggregate indicator came from price changes in “Food and non-alcoholic beverages,” which raised the CPI by 0.37 percentage points, or 60.7% of the total increase. Price changes in “Housing services, water, electricity, gas, and other fuels” and “Transport” added another combined 0.11 percentage points. The remaining divisions contributed an additional 0.13 percentage points. The total impact for February amounted to 0.61 percentage points.
Since the beginning of 2026, the accumulated contribution structure was similar: the aggregate CPI increased by a total of 1.29 percentage points. The largest contribution again came from food and non-alcoholic beverages. Rising prices in “Insurance and financial services” added another 0.12 percentage points, or 9.3% of the total increase, during January–February 2026. A further 0.25 percentage points came from housing services, transport, and household goods and services.
The report also contains a separate analytical block on the additional CPI calculated using the geometric Young formula. Starting from January 2026, the National Committee on Statistics began compiling this index for analytical purposes. In February 2026, it stood at 100.6% relative to the previous month and 101.2% relative to December 2025. At the same time, the statistical authority emphasizes that this indicator does not replace the main CPI and is not an alternative to it. Across divisions, the additional index values are generally close to the main index, but for some categories the differences are substantial. The clearest example is “Insurance and financial services”: under the geometric Young formula, the index relative to December 2025 stood at 121.8%, whereas in the main CPI it reached 141.2%.
The methodological section of the report is important for interpreting the published data correctly. Starting from January 2026, the monthly CPI calculation has been based on 517 types of goods and services, compared with 510 in 2025. Of these, 419 are goods and 98 are services. The calculations rely on data on the structure of household expenditures and on information about changes in consumer prices. Price data are collected in Nukus, Tashkent, regional centers, and on a sample basis in city and district centers. The calculations use CAPI data, administrative transaction data based on online cash register receipts, data from service providers and retailers via the eStat system, web scraping from online sources, and CATI telephone surveys. Price collection is carried out from the 1st to the 25th day of each month. The main CPI is compiled on the basis of the modified arithmetic Young formula, while the geometric Young formula index is published as an additional analytical indicator.
The final section of the report also provides useful references to the methodology for compiling price indices, the national COICOP-based classifier, and the international CPI manual.
Thus, in February 2026, the aggregate CPI in Uzbekistan maintained a moderate monthly pace of growth, but the internal structure of inflation remained uneven. The strongest pressure on the aggregate indicator continued to come from the food segment, while the highest year-on-year growth rates were concentrated in services, the housing and utilities block, transport, and the insurance and financial segment. This means that assessing inflation dynamics in Uzbekistan requires analysis not only of the headline indicator, but also of its internal structure across goods, services, and regions.
Source: National Committee of the Republic of Uzbekistan on Statistics