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Annual inflation makes 2.4% - Central Bank

13.09.2019,17:14


September 13, Fineko/abc.az. Since the last board meeting on monetary policy, price growth has slowed.

This is stated in the message of the Central Bank.

So, according to official statistics, annual inflation in August amounted to 2.4%. Food prices among inflation components (4.7%) exceed the general inflation rate, while non-food (1.2%) and services (0.1%) remain below the center of the target range of general inflation. The dynamics of food price growth affects the growth of some food prices in the world market with high bandwidth to prices. In general, both general inflation and its components are formed within the target range.

Monetary conditions, stability in bilateral and multilateral courses and seasonal factors in terms of the activity of consumption and the rise in price of some food products in the world market have a stabilizing effect on inflation.

According to the results of monitoring the real sector, in August there was a decrease in prices in the sectors of trade, services and construction, and in the non-oil industry, growth.

It is forecasted that inflation will form in the target range (4 ± 2%) by the end of 2019 amid growing fiscal spending and expanding consumption of the main components of aggregate demand. In the medium term, inflation will depend on the extent to which external and internal risks are realized.