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Economy

Uzbekistan’s inflation rises to 6.4% in September while Georgia’s holds at 5.6%

Consumer prices in Uzbekistan rose 6.4% in the year to September, 0.7% in the month and 4.2% since December, the statistics committee’s release of 5 October shows, against 8.0% a year earlier. In Georgia annual inflation stayed at 5.6% in September, unchanged from August, with transport up 18.7% on fuel, Geostat said on 2 October.

Bar chart in two pairs: Uzbekistan’s September inflation of 6.4% beside 7% for services, and Georgia’s 5.6% beside 18.7% for transport.

Food prices in Uzbekistan rose 6.3% over the year, non-food goods 5.8% and services 7.0%, with Tashkent at 7.0%, by the release. Tomatoes rose 14.2% in the month and 54.9% over the year, and cucumbers 13.5% in the month, and Spot called the annual figure the highest since the start of the year on Monday. Uzbekistan’s rate climbs while Georgia’s holds, and fuel does the work in Tbilisi.

In Georgia transport prices rose 18.7% over the year and contributed 2.2 percentage points of the 5.6%, with petrol up 30% and diesel up 54% over 12 months, by Newsgeorgia.ge’s reading of Geostat’s release. Food rose 3.4%, housing and utilities 9.2%, health 8%, and education fell 12.5% on a 32.9% drop in the cost of higher education.

Uzbekistan’s rate climbs while Georgia’s holds, and fuel does the work in Tbilisi.

The National Bank of Georgia’s target is 3% and its key rate 8.25%, held on 9 September, with core inflation at 3.6% and services at 4.4% by the bank’s reading, which blames external shocks, the Middle East and energy and food prices, for the overshoot. Uzbekistan’s Central Bank holds its rate at 14%, with the next decision on 28 October.