In October, inflation expectations of the public and businesses in Uzbekistan for the next 12 months began to decline, the Central Bank said in a survey.

Price expectations among the public for the last month decreased to 12.8% (-0.5% percentage points compared to September), and among businesses - to 12% (-0.6%).

This time, optimism regarding future inflation has sharply increased in Tashkent city. If in September inflation was predicted at 15.2%, then by the end of October the average figure fell to 11.6% (-3.6%). Expectations of businesses decreased from 13.3% to 12.6%.

Among the public, the highest level of inflation expectations was recorded in the Tashkent region - 14.8% (+1.1%), and among businesses - in the Navoi region (14.4%, +1.5%).

Residents of Samarkand (13.9%), Syrdarya (13.9%) and Namangan (13.8%) provinces also expect high rates of price growth.

In October surveys among the public, the main factor that could influence price growth was still said to be the change in the exchange rate - 51% of respondents chose this option (in September - 50%). In the end of October, the dollar strengthened against the soums by 90 soums (+0.71%). In general, since the beginning of the year, the soum has devalued by only 3.5%.

The rise in the price of utilities climbed to second place - 47% of respondents think so (previously 45%).

The rise in the price of gasoline and energy (electricity, gas) has dropped to third place. In October, 46% (47%) of respondents said that this factor would influence price growth in the next 12 months.

Next come the increase in wages and pensions — 31% (39%), monopolies and artificial price increases — 28% (29%), and the increase in transportation costs — 26% (28%).

For businesses, the main factor in increasing prices was also a possible change in the exchange rate — 50% of respondents (previously 51%), an increase in the price of utilities — 42% (46%), and gasoline and energy resources — 42% (44%).

Next come the increase in wages and pensions — 30% (38%), an increase in transportation costs — 29% (31%), an increase in the cost of raw materials — 25% (27%), and a high level of tax burden — 23% (27%).

Inflation expectations among public groups with the highest income (over 15 million soums) improved from 15.8% to 13.9% (-0.9%). The highest inflation rate (14.4%) is expected by respondents with an income of 10-15 million soums.

People with an income of up to 2 million soums predict inflation for the next 12 months at 12.1%, and people with no income - 12.3%.