Uzbekistan inflation expectations fall to 8.7% in September 2026

Uzbekistan's population expects inflation over the next 12 months to have fallen to 8.7% in September 2026, down from 9.8% a month earlier, according to the Central Bank of the Republic of Uzbekistan. Business owners' expectations dropped to 9.2% from 9.6% in August.

The monthly survey included 2,726 residents and 1,043 business entities. Alongside the weighted averages, medians were published: the population's median expectation stayed at 8%, while the entrepreneurs' median rose from 8% to 9%. Perceived inflation for September also declined, to 9.2% from 10.1% in August.

Pensioners reported the highest inflation expectations among residents, at 12.4%. Trade workers (7.8%) and students (7.9%) had the lowest. Regionally, expectations were highest in Tashkent at 11.6%, and lowest in Khorezm region (6.8%) and Namangan region (7.1%). Residents named fuel and energy price rises (50%) and utilities (38%) as the main drivers of price growth, while 56% cited meat and milk as the goods whose prices rose most.