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Azerbaijan's average annual inflation slows down

Economy Materials 10 August 2023 14:24 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, August 10. The Consumer Price Index (CPI) in Azerbaijan increased by 12.2 percent from January through July 2023, compared to the previous year, Trend reports.

The consumer price index stood at 12.7 percent at the end of June.

According to the State Statistics Committee of Azerbaijan, food, beverages and tobacco prices went up by 14.3 percent over the year, while non-food products – by 11 percent. Meanwhile, paid services rendered to the population rose by 10.4 percent.

The country’s CPI in July 2023 decreased by 0.7 percent compared to the previous month and increased by 9.4 percent year-on-year.

July 2023 against June 2023 (%)

July 2023 against July 2022 (base rate 100%)

6M2023 against 6M2022 (base rate 100%)

Total products and services

99.3

109.4

112.2

Consumables

98.5

109.7

114.3

Food

98.4

110

114.8

Alcoholic beverages

99.6

102.5

104.2

Tobacco products

100

103.6

104.5

Non-food products

100

108.8

111

Paid services

100.1

109.6

110.4

Azerbaijan's CPI increased by 13.9 percent in 2022 compared to 2021.

Food, beverage, and tobacco prices went up by 19.5 percent, while non-food products – by 8.6 percent. Meanwhile, paid services rendered to the population rose by 10.4 percent.

The country’s CPI in December 2022 edged up by one percent compared to November 2022 and 14.4 compared to December 2021.

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