Baku, Azerbaijan, Aug. 12
By Azad Hasanli - Trend:
In 2015, inflation in Azerbaijan will remain at one-digit level, said the monetary policy report of the Central Bank of Azerbaijan (CBA) for the first half of 2015.
In the first half of 2015, the inflation rate in Azerbaijan amounted to 3.5 percent, according to the State Statistics Committee.
"During the reporting period, the prices for bread rose by 9.5 percent, oils and fats - by 11.8 percent, fruits - 10.5 percent, coffee, tea and cocoa - 9.4 percent, while the cost for vegetables has decreased," said the report. "In the first half of 2015, the production prices of agricultural products rose by 8.7 percent, including 1.5 percent increase in the cost of livestock production, 15.6 percent increase in crop production, and 3.8 percent increase in fish products."
In the first half of 2015, the nominal effective exchange rate, inflation expectations and high inflation in the partner countries of Azerbaijan had an increasing impact on prices in the country, and seasonal factors, the monetary base and the change in food prices in the world, on the contrary, depressing effect, according to the report.
The report said that the average annual inflation in the countries that are trade partners of Azerbaijan for the period was 8.2 percent.
The average annual inflation in the trading partner countries of Azerbaijan will be 7.9 percent, according to estimates of the Central Bank, based on the forecasts made by the International Monetary Fund (IMF).
The official exchange rate of August 12 is 1.0489 AZN / USD.
Edited by CN