In the first eight months of 2015, annual inflation was 3.8%. This is the highest increase in consumer prices since 2011.
According to the SSC, since the beginning of the year, food prices in comparison with January-August 2014 increased by an average of 6%. Non-food prices grew by 3%, services to the population - 1.2%.
Note that spikes in prices for goods and services in Azerbaijan are connected with the devaluation of the national currency since February 21 of this year by 34%.
The government forecasted the inflation in Azerbaijan at the level of 2-3%. Officially, the country's average growth of incomes of the population is 2.6% ahead of the consumer price index.
The consumer price index in January-August compared to the same period of previous years:
Period | Consumer price index | Food | Non-food | Services |
January – August 2015 | 103.8 | 106 | 103 | 101.2 |
January – August 2014 | 101.4 | 100.8 | 103.6 | 100.4 |
January – August 2013 | 102.2 | 102.2 | 100.5 | 103.4 |
Inflation in Azerbaijan in 2006-2014:
Inflation | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 |
Total for goods and services | 108.3 | 116.7 | 120.8 | 101.5 | 105.7 | 107.9 | 101.1 | 102.4 | 101.4 |
08B
Economics
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