BAKU, Azerbaijan, Feb. 18
By Zeyni Jafarov - Trend:
The inflation rate remained below the level of the set four percent target range in Azerbaijan in 2020, Trend reports with reference to the Central Bank of Azerbaijan (CBA).
The 12-month inflation reached 2.6 percent in 2020 and is below the level of the target corridor announced by the CBA.
The growth in the price index for food products that have a big weight in the consumer basket over the past 12 months amounted to 4.5 percent.
The annual growth rates in prices for non-food products and services, which are other components of inflation (1.2 percent and 1.1 percent, respectively), also remain well below the level of the target range.
The low inflation rate for non-food products is mainly stipulated by the decrease in demand during the coronavirus pandemic.
Earlier, head of the CBA Elman Rustamov announced the forecasts for inflation in Azerbaijan during 2021 at the level of four percent.
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