O‘zbekistonda inflyatsion targetlash samaradorligi: pul-kredit sharoitlari va inflyatsion bosimlarning transformatsiyasi

Abdullayev Habibullo Asadulla oʻgʻli

Меҳнат иқтисодиёти ва инсон капитали · 2026-yil

Annotatsiya

This article analyzes the formation of the inflation targeting regime in Uzbekistan and its results during 2020– 2026. The purpose of the study is to assess the relationship between the policy rate, headline and core inflation, inflation expectations, aggregate demand, and administered prices. Dynamic and comparative analyses, deviations of inflation from the 5 percent target, and an ex-post real policy rate proxy were used. The results show that tight monetary conditions played an important role in disinflation during 2025–2026, although the entire decline cannot be explained by monetary factors alone. The exchange rate, import prices, base effects, and the liberalization of energy tariffs also had a significant impact on inflation dynamics. In July 2026, annual inflation stood at 6.4 percent, approaching the 5 percent target; however, strong domestic demand and services inflation require cautious monetary policy. Proposals have been developed to strengthen interest rate transmission, improve fiscal-monetary coordination, and better manage inflation expectations.

Maqola ma’lumotlari
MualliflarAbdullayev Habibullo Asadulla oʻgʻli
JurnalМеҳнат иқтисодиёти ва инсон капитали
NashriyotТДИУ
ISSN3030-3117
Nashr sanasi2026-10-29
Son1.
TilO‘zbek
Ilmiy sohaIqtisodiyot
DOI10.67668/lehc/voliss1-maxsus/528
Indeksga qo‘shilgan2026-10-29

DOI: 10.67668/lehc/voliss1-maxsus/528 · Maqolaning asl sahifasi

Kalit so‘zlar

inflyatsiya, inflyatsion targetlash, pul-kredit siyosati, valyuta kursi, import narxlari, monetar omillar, инфляция, инфляционное таргетирование, денежно-кредитная политика, валютный курс, импортные цены, монетарные факторы, inflation, inflation targeting, monetary policy, exchange rate, import prices, monetary factors

Ilmiy soha

Iqtisodiyot

Iqtibos keltirish

APAAbdullayev Habibullo Asadulla oʻgʻli (2026). O‘ZBEKISTONDA INFLYATSION TARGETLASH SAMARADORLIGI: PUL-KREDIT SHAROITLARI VA INFLYATSION BOSIMLARNING TRANSFORMATSIYASI. Меҳнат иқтисодиёти ва инсон капитали, (1.). https://doi.org/10.67668/lehc/voliss1-maxsus/528
GOST (OAK)Abdullayev Habibullo Asadulla oʻgʻli O‘ZBEKISTONDA INFLYATSION TARGETLASH SAMARADORLIGI: PUL-KREDIT SHAROITLARI VA INFLYATSION BOSIMLARNING TRANSFORMATSIYASI // Меҳнат иқтисодиёти ва инсон капитали. – 2026. – № 1.. – DOI: 10.67668/lehc/voliss1-maxsus/528.
MLAAbdullayev Habibullo Asadulla oʻgʻli. “O‘ZBEKISTONDA INFLYATSION TARGETLASH SAMARADORLIGI: PUL-KREDIT SHAROITLARI VA INFLYATSION BOSIMLARNING TRANSFORMATSIYASI.” Меҳнат иқтисодиёти ва инсон капитали, (1.), 2026. https://doi.org/10.67668/lehc/voliss1-maxsus/528
ChicagoAbdullayev Habibullo Asadulla oʻgʻli. “O‘ZBEKISTONDA INFLYATSION TARGETLASH SAMARADORLIGI: PUL-KREDIT SHAROITLARI VA INFLYATSION BOSIMLARNING TRANSFORMATSIYASI.” Меҳнат иқтисодиёти ва инсон капитали, (1.) (2026). https://doi.org/10.67668/lehc/voliss1-maxsus/528
HarvardAbdullayev Habibullo Asadulla oʻgʻli (2026) ‘O‘ZBEKISTONDA INFLYATSION TARGETLASH SAMARADORLIGI: PUL-KREDIT SHAROITLARI VA INFLYATSION BOSIMLARNING TRANSFORMATSIYASI’, Меҳнат иқтисодиёти ва инсон капитали, (1.). https://doi.org/10.67668/lehc/voliss1-maxsus/528
BibTeX
@article{abdullayevhabibulloasadullaogli2026,
  title = {O‘ZBEKISTONDA INFLYATSION TARGETLASH SAMARADORLIGI: PUL-KREDIT SHAROITLARI VA INFLYATSION BOSIMLARNING TRANSFORMATSIYASI},
  author = {Abdullayev Habibullo Asadulla oʻgʻli},
  journal = {Меҳнат иқтисодиёти ва инсон капитали},
  year = {2026},
  number = {1.},
  doi = {10.67668/lehc/voliss1-maxsus/528},
  url = {https://doi.org/10.67668/lehc/voliss1-maxsus/528}
}

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