THE EFFECT OF INFLATION ON THE STRUCTURE OF HOUSEHOLD CONSUMER EXPENDITURE IN UZBEKISTAN

Abstract

This article examines inflation trends in Uzbekistan during 2019–2025 and their potential relationship with changes in household consumption expenditure. Official data from the National Statistics Committee and the Central Bank of Uzbekistan are used to analyse inflation and the expenditure shares of food, non-food goods, and services. The findings show that declining headline inflation does not necessarily produce uniform changes in consumer prices or household spending patterns. The analysis highlights the roles of real income, relative prices, and essential expenditure in shaping consumption decisions. However, the available aggregate data and changes in expenditure composition are insufficient to establish a direct causal relationship between inflation and household spending patterns.