Inflation Uzbekistan 2023
Average inflation: 10.0%
Current Inflation
Inflation is very high at 10.0%, far above the ECB target.
Peak and Trough
The highest inflation was in January at 12.2%. The lowest inflation was in November at 8.7%.
- Highest month
- January: 12.2%
- Lowest month
- November: 8.7%
- Difference
- 3.5 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 5.2%. The lowest price increase was in Energy with an average of 5.2%.
- Highest increase
- Energy: 5.2%
- Lowest increase
- Energy: 5.2%
Historical Context
Current inflation is 1.9% lower than the 5-year average of 11.9%.
- 5-year average
- 11.9%
- 10-year average
- 11.7%
- All-time high (2018)
- 17.6%
- All-time low (2016)
- 8.1%
Trend
Inflation has remained relatively stable. Compared to 2022, the difference is minimal (-1.4 percentage point).
- Change vs. previous year
- -1.4 percentage points
- Largest monthly swing
- November: -3.6 percentage points
ECB Target
Inflation is 8.0% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €110.00 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Month overview
| Month | Inflation | Difference vs. 2022 |
|---|---|---|
| January | 12.2% | +2.4 |
| February | 12.2% | +2.5 |
| March | 11.7% | +1.3 |
| April | 11.0% | +0.6 |
| May | 10.4% | -0.6 |
| June | 9.0% | -3.2 |
| July | 8.9% | -3.4 |
| August | 9.0% | -3.3 |
| September | 9.2% | -3.0 |
| October | 9.0% | -3.2 |
| November | 8.7% | -3.6 |
| December | 8.7% | -3.6 |
| Average | 10.0% |
Data source
Data from WorldBank. Last updated: 06/01/2026.