President Ilham Aliyev: Inflation in Azerbaijan is an imported inflation

"Inflation has become a serious problem all over the world. Even in developed Western countries, where inflation usually did not exceed one percent – one or a maximum of 1.5 percent – inflation exceeds 10 percent now," said President Ilham Aliyev as he was interviewed by local TV channels, Report informs, citing AZERTAC.

"Inflation in Azerbaijan is an imported inflation. Because we, of course, are a part of the world economy, we import many goods, and we work in this direction so that local production replacing imports becomes more extensive. But, of course, we are still dependent on imports. Therefore, if it is possible to say so, inflation was imported to Azerbaijan. According to the results of last year, it was 13.9 percent. In other words, our ability to fight this imported inflation is quite limited," the head of state emphasized.