17:23 - 11.02.2022

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February 11, Fineko/abc.az. Inflation is decrease of the purchasing power of money (national currency) along with an increase in the overall price level.

ABC.AZ reports with reference to the State Statistics Committee that as goods and services are becoming more expensive, you cannot buy the same goods and services after a while for money of certain denomination.

For example, if an annual inflation rate of 13% was recorded in the country, this means that 113 manats are currently required to purchase goods bought a year ago for 100 manats.

The average annual inflation in Azerbaijan at the end of January 2022 was 12.5%.

The CPI (inflation index) in January 2022, compared with January 2021, grew by 12.5%, including for foods, beverages and tobacco products by 17.1%, non-foods by 5.9%, and paid services to the population by 11.1%.