Central Bank of Azerbaijan reveals inflation expectations for this year
Baku, Azerbaijan, March 15
By Azad Hasanli - Trend:
In January-February 2019, inflation in Azerbaijan amounted to 0.8 percent compared to the figures at the end of last year, Trend reports March 15 with reference to the Central Bank of Azerbaijan (CBA).
Food products rose in price by 2.1 percent, non-food products by 0.2 percent. This is while prices for services decreased by 0.6 percent.
“The rise in prices for food products is primarily due to seasonal factors,” the report said. “Prices for 15 percent of the products in the food basket remained unchanged, while the prices for 16 percent of products decreased. As much as 85 percent of the products grew in price by less than 2 percent.”
In January-February 2019, average annual inflation was 1.9 percent, which is 2.8 percentage points less than in the same period last year.
Since the last meeting of the CBA Board, there have been no significant changes in inflation expectations for businesses in the country. CBA surveys showed that over the past two months, inflation expectations in the sphere of trade, non-oil refining and construction have decreased, while in the services sector, on the contrary, increased. Among households, the share of those expecting acceleration of the inflation pace remained unchanged.
For this year, the CBA expects inflation at 4 percent (±2 percent).