According to the updated forecasts in March, taking into account the current monetary policy, inflation is expected to form in the target range announced by the end of 2021, according to the information of the Central Bank of Azerbaijan (CBA), APA-Economics reports.
Although the annual inflation rate has risen since the last meeting of the CBA Board on monetary policy, it has remained within the target. According to the official statistics, the consumer price index in February increased by 1,6% compared to the previous month and 4,2% compared to February last year.
Inflation was primarily affected by cost factors such as rising world commodity prices and some administrative prices.
The role of rising in the prices on non-food products and services has partially increased in the inflation.
Average annual basis inflation, excluding prices for government-regulated goods and services, as well as seasonal agricultural products were 2.1% in January-February 2021.