The Central Bank of Uzbekistan recorded a new low in inflation expectations among households and businesses following its August survey.
According to the Central Bank, the average projected price growth over the next 12 months was 9.8%, down 0.3% from June and July. The median figure returned to 8%. Among businesses, the average forecast hit an all-time low since records began at 9.6%, with the median estimate also reaching 8%.
When asked about factors driving inflation expectations, respondents most often pointed to rising utility rates (53%) and energy costs (52%). Exchange rate fluctuations remained at the bottom of the list, cited by 14% of respondents. In the business sector, higher energy costs came out on top (55%), followed by utility tariffs (50%).