Impact of various factors on inflation assessed in Azerbaijan

12:16 - 22.01.2025


January 22, Fineko/abc.az. As a result of the price increase in the trading partner countries with Azerbaijan, domestic prices increased by 4.41 percentage points in 2024.

ABC.AZ reports that CBA chairman Taleh Kazimov stated about this at a press conference devoted to the decision of his department regarding the parameters of the interest rate corridor.

"As for internal factors, inflation was boosted by government and household consumption by 1.5 p.p., price regulation by 0.6 p.p. , and agricultural consumption by 3.4 p.p. The nominal effective exchange rate of the manat was 2.21 p.p., while other factors had downward impact of 3.6 p.p.," he said.

In addition, Kazimov added that an increase in State Budget expenditures this year will have an upward impact on inflation by 0.3 p.p., and an increase in the loan portfolio by 0.64 p.p.