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At what level was inflation rate last month? – Central Bank statement

13.12.2019,13:21


December 13, Fineko/abc.az. The Board of the Central Bank made a decision to reduce the discount rate.

ABC.AZ reports that in its statement the CBA also says that in the dynamics of inflation there were no noticeable changes in the dynamics of consumer prices over the past period since Board’s last meeting devoted to monetary policy.

According to official statistics, annual inflation in November made up 2.6%, that is closer to the minimum target range. In general, for 12 months the price of 8.8% of products received in the consumer basket has not changed, decreased by 15.4%. The increase in prices by 46.4% of goods and services made up 2%. The food price index with significant weight in the consumer basket rose by 4.8% year-on-year in November.

Strengthening of trends in the growth of world food prices is one of the main factors affecting the inflation of domestic products through the import channel. World food prices in November rose by 2.7% compared with the previous month, and compared with the same period last year by 9.5%. On the other hand, seasonal factors affect the price increases of some local agricultural commodities. The decline in annual growth rates on non-food products and services (1% and 0.9%, respectively) has a limiting effect on general inflation.