Inflation Rate (CPI): Uzbekistan

Analysis# Uzbekistan Inflation Rate (CPI) Uzbekistan's inflation rate stands at 7.3% in 2026, marking a dramatic stabilization from its tumultuous post-Soviet past. The country experienced a catastrophic peak of 1,568.3% in 1994 during economic transition, yet has achieved a remarkable 98.9% reduction since 1992. The current rate matches the all-time low recorded in 2004, demonstrating that decades of macroeconomic policy have restored price stability to 1990s pre-crisis levels. The most significant turning point occurred around 2017-2018, when inflation spiked to 17.5% before entering a sustained downward trajectory. Since 2018, the rate has declined consistently—from 14.5% in 2019 to the projected 7.3% in 2026. This six-year contraction reflects increasingly effective monetary policy and economic reforms. The steady progression suggests Uzbekistan has firmly exited its inflationary cycle, with projections indicating the stabilization will persist.