CBA: Uncertainties over inflation environment for next year are high

Although the actual annual inflation in Azerbaijan stabilized in the last 2 months, it still remains in double digits, and uncertainties over the inflation environment for the next year are high, the Central Bank of Azerbaijan said, Report informs.

“In November, monthly inflation was 1%, annual inflation was 15.1%, and annual base inflation was 14.7%. Among the factors that determine the dynamics of inflation, the cost factors of foreign origin retain their dominant position. The 14% decrease in world food prices in the last six months and the relative slowdown of the weighted average inflation in the partners were one of the factors that influenced the decrease in the inflation rate in the last months. However, this effect is realized in 6-9 months,” CBA said.