BAKU, Azerbaijan, December 4. Average annual rate of inflation in Azerbaijan will make up five percent in 2024 (against 5.5 percent in the previous forecast), Trend reports via Dutch ING (International Netherlands Group) company.
This statistic was likewise anticipated by ING to be 9.1 percent in 2023 (the same as the prior forecast).
Furthermore, the business maintained its projection for Azerbaijan's average annual rate of inflation in 2025 (5.6 percent).
According to data from Azerbaijan's State Statistics Committee, the country's annual inflation rate in 2022 will be 13.9 percent.
Food, beverage, and tobacco costs jumped by 19.5 percent over the year, while non-food prices increased by 8.6 percent and paid services to the general public increased by 10.4 percent.
Furthermore, the consumer price index in Azerbaijan climbed by 1% over the previous month and by 14.4% over the same month last year in December 2022.
The Central Bank of Azerbaijan expects annual inflation in the country to reach eight percent in 2023.
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