What will inflation rate be in Azerbaijan?

26 April 2019 15:15 (UTC+04:00)

By Trend

The Central Bank of Azerbaijan (CBA) has kept inflation forecasts at a stable level, Elman Rustamov, the chairman of the CBA, said at a press-conference in Baku, Trend reports.

According to CBA, inflation will be about 4 percent (+/- 2 percent) in 2019, Rustamov said. He noted that the monitoring conducted in the real sector showed that inflationary expectations in the construction sector and the non-oil processing industry decreased.

According to our forecasts and forecasts of international financial organizations including the International Monetary Fund, inflation in the country is also expected to be at a low level, Rustamov added. According to IMF, inflation in Azerbaijan will be one of the lowest among the CIS countries and oil exporters.

In January-March 2019, prices for consumer goods and tariffs for services in Azerbaijan increased by 2.1 percent compared to the first three months of 2018, according to the State Statistical Committee of the country.

During the reported period, prices for foodstuffs increased by 1.5 percent, for non-foodstuff products - by 1.2 percent, and the cost of paid services increased by 3.6 percent.

In March, the monthly inflation in Azerbaijan was 0.6 percent in Azerbaijan.

The prices of foodstuffs during the month increased by 1.3 percent, non-food products - by 0.1 percent, and the cost of paid services - by 0.1 percent.


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