Perceived inflation in Uzbekistan fell to 9.2% in September 2026

Perceived inflation has declined but remains above the official figure

According to September 2026 results, inflation as perceived by Uzbekistan's population declined slightly compared with the previous month, standing at 9.2% year on year. This was reported, citing survey results, by the Central Bank. The gap with official statistics persists: the National Statistics Committee put September's annual inflation at 6.4% — meaning the public's subjective perception of price growth is roughly three percentage points higher than the official figure.

Who feels price growth the most

The highest perceived inflation is among pensioners: in their estimate, prices rose by 12.5% over the past 12 months. The lowest figures are reported by food service workers — 8.2%. By region, the maximum was recorded in Tashkent (11.9%) and the minimum in Namangan Region (7.9%). Among the goods and services whose prices, in respondents' view, rose the most, the leaders are meat and dairy products (56% of respondents noted an increase), gasoline and fuel (53%), electricity and natural gas (36%), passenger transport (24%) and food services (22%).

Expectations are also declining

The population's inflation expectations for the next 12 months according to the Central Bank's September survey declined to 8.7%, while enterprises' expectations fell to 9.2%. Among population groups, pensioners have the highest expectations (12.4%) and trade sector workers the lowest (7.8%); among businesses, expectations are highest in the transport industry (10.7%) and lowest in tourism (7.5%). By region, the population's maximum expectations are in Tashkent (11.6%) and the minimum in Khorezm Region (6.8%); among businesses, Samarkand Region leads (10.2%), while Kashkadarya Region is at the bottom (7.5%). It was noted that people with incomes above 10 million sums form their expectations at a comparatively high level.