Baku, Azerbaijan, Jan. 24
Inflation in Azerbaijan in 2016 is forecast to be at 10-12 percent, said the country's Finance Minister Samir Sharifov in an interview to ANS TV channel.
"It is envisaged in the updated concept of socio-economic development, prepared by the Ministry of Economy," Sharifov said.
He added that the devaluation of manat impacted the consumer prices, thus the inflation in the country for 2016 is forecast at 10-12 percent.
The inflation in the country in 2015 amounted to 4 percent, in 2014 - 1.4 percent, in 2013 - 2,4 percent, in 2012 - 1,1 percent, in 2011 - 7,9 percent, in 2010 - 5,7 percent. Food prices grew by 6,1 percent last year, non-food prices - 3,8%. Tariffs for paid services increased by 1,2 percent.
As a result of the two devaluations of manat the currency cheapened by almost 100 percent last year.