INFLATION PROCESSES AND MECHANISMS FOR ITS REGULATION

Authors

  • Umarov Muzaffar Yusupboy o’g’li Senior Lecturer, Tashkent State University of Economics, Tortkul Faculty, Department of Social, Humanitarian and Exact Sciences,
  • Jumaniyozov Nodirbek Odilbek oʻgʻli E-Independent researcher (PhD),
  • Saparmatova Sevinchoy Student at the Tortkul Faculty of Tashkent State University of Economics
  • Rajapboyeva Robiya Student at the Tortkul Faculty of Tashkent State University of Economics

Keywords:

inflation, price stability, monetary policy, key rate, inflation targeting, Central Bank, inflation expectations, macroeconomic stability, transmission mechanism, monetary policy.

Abstract

The article analyzes the essence, types and factors shaping inflation processes from the perspective of modern macroeconomic theory. The dynamics of the inflation rate in 2017–2025 on the example of the Republic of Uzbekistan is studied based on statistical data. The effectiveness of monetary policy instruments used by the Central Bank (key rate, open market operations, reserve requirement, currency interventions) in regulating inflation is assessed. According to the results of the study, the need to implement structural reforms affecting supply-side factors along with monetary policy is justified in order to reduce inflation to the target level of 5 percent.

References

Mishkin FS The Economics of Money, Banking, and Financial Markets. — 12th edition. — Boston: Pearson, 2019. — 736 p.

Uzbekistan Republic The President's "Money and Credit" policy improvement according to additional measures on » Decree No. PF–5877 of November 18, 2019 // Legislation information national base. — 19.11.2019 — No. 06/19/5877/4032.

Uzbekistan Republic Statistics agency. Consumption prices index and inflation level according to report, 2024 [Electronic resource ]. — Usage mode : https://stat.uz ( contact) date : 15.04.2025).

In Uzbekistan in 2024 inflation rate of 9.8 percent organization [Electronic resource ]. — 01.01.2025. — Use mode : https://www.spot.uz/oz/2025/01/01/inflation-2024/ ( reference) date : 12.04.2025).

Friedman M. The Quantity Theory of Money: A Restatement // Studies in the Quantity Theory of Money. — Chicago: University of Chicago Press, 1956. — P. 3–21.

Keynes JM The General Theory of Employment, Interest and Money. — London: Macmillan, 1936. — 472 p.

Yakshiyeva MT Monetary theory and politics : education manual. — Tashkent: Economics-Finance, 2021. — 248 p.

Bobokulov T., Jumayev N. Credit policy improvement theoretical-methodological basics // Economics and innovative technologies scientific electronic Journal. — Tashkent, 2022. — No. 4. — P. 112–124.

International Monetary Fund. Republic of Uzbekistan: 2024 Article IV Consultation–Press Release; Staff Report. — Washington, DC: IMF Country Report No. 24/178, 2024. — 86 p.

European Bank for Reconstruction and Development. Transition Report 2024–25: Navigating Industrial Policy. Country Assessment: Uzbekistan. — London: EBRD, 2024. — 12 p.

Berdiyarov BT Inflation order in the field money and credit of the policy place and efficiency // Finance and banking. — Tashkent, 2023. — No. 2. — P. 45–53.

Uzbekistan Republic Central bank. Annual, year from the beginning and monthly inflation according to statistic information [Electronic resource ]. — Usage mode : https://cbu.uz/uz/monetary-policy/annual-inflation/indicators/ ( reference date : 20.04.2025).

Uzbekistan Republic Central bank. At its meeting on January 23, 2025, the Central Bank Board main rate 13.5 percent per annum at the level save stay about decision acceptance did : press message [Electronic resource ]. — Usage mode : https://cbu.uz/uz/monetary-policy/publications/press-releases/2117319/ ( reference date : 25.01.2025).

Uzbekistan Republic Central bank. At its meeting on March 20, 2025, the Central Bank Board main rate of 0.5 percent to the point increasing by 14 percent per year at the level designation about decision acceptance did : press message [Electronic resource ]. — Usage mode : https://cbu.uz/uz/press_center/releases/2249395/ ( apply) date : 22.03.2025).

Khamraev AA Inflation targeting mode under the circumstances money and credit Transmission mechanism of policy // International finance and account scientific Journal. — Tashkent, 2023. — No. 1. — P. 67–79.

Ganiyeva G. Money and credit policy improvement through commerce banks liquidity provision ways // Journal of Science-Innovative Research in Uzbekistan. — 2024. — Vol. 2, No. 5. — P. 234–242.

Daryo.uz. Uzbekistan inflation level the most high regions known [Electronic resource ]. — 12.05.2025. — Use mode : https://daryo.uz/2025/05/12/ozbekistonning-inflyatsiya-darajasi-eng-yuqori-hududlari-malum-qilindi ( reference date : 15.05.2025).

Downloads

Published

2026-05-06

How to Cite

Umarov Muzaffar Yusupboy o’g’li, Jumaniyozov Nodirbek Odilbek oʻgʻli, Saparmatova Sevinchoy, & Rajapboyeva Robiya. (2026). INFLATION PROCESSES AND MECHANISMS FOR ITS REGULATION. Ethiopian International Journal of Multidisciplinary Research, 13(5), 309–316. Retrieved from https://eijmr.org/index.php/eijmr/article/view/6615

Issue

Vol. 13 No. 5 (2026): Ethiopian International Journal of Multidisciplinary Research

Section

Articles