EXCHANGE RATE PASS-THROUGH, IMPORT PRICES, AND INFLATION PERSISTENCE IN UZBEKISTAN: EVIDENCE FROM 2018–2025
- Authors
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Olloberdi Ortiqov Muzaffar o’g’li
Bachelor’s Student, Economics (By Sectors and Spheres) University of Geological Sciences, Tashkent, Uzbekistan
Author
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- Keywords:
- food, fuel, machinery, and medicines, exchange rate
- Abstract
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This article examines exchange rate pass-through, import prices, and inflation stabilization in Uzbekistan during 2018–2025. After the 2017 currency liberalization reforms, Uzbekistan experienced significant exchange rate fluctuations that increased import prices and created inflationary pressure. Since the economy depends heavily on imported goods such as food, fuel, machinery, and medicines, exchange rate volatility became an important factor affecting domestic price stability.
- References
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1.Archives of Exchange Rates [WWW Document], n.d. . The Central Bank of the Republic of Uzbekistan. URL https://cbu.uz/en/arkhiv-kursov-valyut/ (accessed 5.17.26).
2.Asian Development Bank, 2024. Asian development Outlook April 2024: Uzebkistan.
3.Campa, J.M., Goldberg, L.S., 2005. Exchange Rate Pass-Through into Import Prices. The Review of Economics and Statistics 87, 679–690. https://doi.org/10.1162/003465305775098189
4.Carriere-Swallow, Y., Firat, M., Furceri, D., Jimenez, D., 2023. State-Dependent Exchange Rate Pass-Through. IMF Working Papers 2023. https://doi.org/10.5089/9798400240461.001.A001
5.DP-5177-сон 02.09.2017. On priority measures to liberalize monetary policy [WWW Document], n.d. URL https://lex.uz/docs/7085629 (accessed 5.17.26).
6.Jimenez, Y.C.-S., Melih Firat,Davide Furceri,Daniel, n.d. State-Dependent Exchange Rate Pass-Through [WWW Document]. IMF. URL https://www.imf.org/en/publications/wp/issues/2023/04/28/state-dependent-exchange-rate-pass-through-532680 (accessed 5.17.26).
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- Published
- 2026-05-18
- Issue
- Vol. 2 No. 5 (2026)
- Section
- Articles
- License
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This work is licensed under a Creative Commons Attribution 4.0 International License.
