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Central Bank: Food inflation made up 5.7%

19.06.2020,17:23


June 19, Fineko/abc.az. During the last meeting of the Board devoted to monetary policy, it was noted that the annual rate of inflation has slowed.

According to official statistics, deflation in May made up 0.5% and annual inflation was 2.9%.

Over the past 12 months inflation in food products was 5.7%, in non-food products 1.4%, and in services 0.4%. Against the backdrop of the uncertainty caused by the pandemic, reduced demand and consumption, as well as investment spending, are the main drivers of deflation. The decrease in food inflation is also influenced by the seasonal fall in prices for agricultural products and the continuing decline in world food prices (a decline of 10.5% for the first 5 months of 2020).