Two-month Inflation Rate - 11.7%

In January-February 2016 the consumer price growth rate (inflation) on an annualized basis was 11.7%, the State Statistics Committee said.

Recall that from February 21 last year, the national currency (manat) has weakened relative to freely convertible currencies more than twofold (from 0.78 manat to 1.63 manat for 1 US dollar). Statistics also estimates that AZN lost purchasing power of the consumer market during this time only 11.7%.

According to the State Statistics Committee, in January-February this year, food prices grew compared to January-February 2015 by 14.8%. Non-food products during this period increased in price by an average of 15.7%. Paid public services became 4% more expensive.

Only in February this year, the monthly inflation rate was 0.4%. The price of food in the past month increased by 0.6%, non-food products grew by 0.6%, and services grew by 0.1%.

According to estimates of SSC, bread and cereals rose at an annual rate - 19.5%, fish products - 10.5%, meat products - 6.5%, dairy products - 12.1%, oils - 29.4%, sugar and confectionery products - 16.6%, coffee and tea - 29.8%, mineral water and soft drinks - 18.7%, and alcoholic beverages - 17.4%. Retail prices of cigarettes for the year went up by 218.9%.    ----- 08D