World Bank says annual inflation surpassed 11% in Azerbaijan

Annual inflation in Azerbaijan climbed to 11.1% yoy in November, Report informs, referring to the WB Azerbaijan Monthly Economic Update – January 2022.

According to the document, CPI rose by 1.5% in November. Food price inflation slowed to 1.9% mom in November, as compared to the 2.8% mom growth recorded in October. Annual food price inflation reached 14.7% in November. Non-food inflation rose to 7.2% from 6.8% in October. Annual services inflation stood at 9%, up from 8.3% a month earlier. Services prices rose by 1.6% mom in November, reflecting higher electricity and natural gas tariffs that came into effect.