In the first quarter of this year, consumer prices in Azerbaijan on an annualized basis (January-March 2016 in relation to the same period of 2015) increased by 10.8%, the State Statistics Committee.
The devaluation of the manat, as well as other economic factors affected the level of inflation in Azerbaijan. After a two-time depreciation of the national currency against the US dollar prices for food products increased by 13.1%, non-food products - 15.2%, paid services - 4%., as calculated in the State Statistics Committee.
Only in March compared with February, prices rose on average by 0.4%. Food went up by 0.3%, non-food goods and services - 0.5%.
The International Monetary Fund recently announced forecasts of inflation in Azerbaijan in 2016 at the level of 12.8%.
In 2015, the official inflation rate was 4% in Azerbaijan.
Economics
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