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World Bank predicts unchanged inflation rate in Azerbaijan

Finance Materials 17 February 2021 17:35
World Bank predicts unchanged inflation rate in Azerbaijan

BAKU, Azerbaijan, Feb. 17

By Zeyni Jafarov – Trend:

The annual inflation rate in Azerbaijan accelerated to 2.7 percent by the end of 2020 but remained within the lower limit of the 4-percent target range of the Central Bank of Azerbaijan (CBA), Trend reports citing the monthly report of the World Bank (WB).

As the WB reported, food prices in December 2020 increased by 1.8 percent, while prices for non-food products and services remained unchanged.

“An increase in prices of gasoline by 11 percent and of diesel by 33 percent, as well as a doubling in water prices in Azerbaijan is expected to drive up prices in the future. Inflation in Azerbaijan will remain within the target range of the country's Central Bank,” said the report.

According to the State Statistical Committee of Azerbaijan, the consumer price index (CPI) in January 2021 accelerated to 3.3 percent compared to January 2020.

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