Azerbaijani Central Bank updates inflation forecasts

Average annual inflation this year is expected at the level of 6.3-6.6%, and annual - 11.4-11.9%, the updated forecast of the Azerbaijani Central Bank says, Report informs.

According to official statistics, monthly inflation in November was 1.5%, and for 12 months - 11.1%. Average annual inflation in January-November amounted to 6.2%, and average annual core inflation - 3.9%. Inflation continues across all subgroups of goods and services.

In November, the food price index increased by 1.9% compared to the previous month, the annual food inflation was 14.9%. Average annual food inflation in January-November amounted to 7.4%.

Prices for non-food products in November increased by 0.5% compared to last month, over the past year - by 7.1%. In January-November, the average annual non-food inflation was 4.8%.

Services rose 1.6% in November and 9.1% over the past year. The average annual inflation in services was 5.4% in January-November.