Bank Of Baku

Azerbaijan sees annual inflation halved

Azerbaijan sees annual inflation halved
# 21 April 2009 16:31 (UTC +04:00)
Baku. Vugar Israfilov – APA-Economics. Azerbaijan’s annual consumer goods and service price inflation was 8.3% year-on-year during the first quarter, said the State Statistical Committee.

According to the statistics, deflation which began early this year for the first time in recent years is ongoing.

As a result, the country saw annual inflation halved from 16.5% to 8.3%.

The government predicts single-digit inflation in the face of global financial crisis. However, some experts claim the country might see deflation at the year-end after liquidity wrung out in the trade and service sectors.
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