CBA: Global rise of some food products prevent reduction in inflation rate

# 10:00
15 November 2017

Stabilization of foreign balance allows currency market to be constant, Central Bank of Azerbaijan (CBA) told APA-Economics.


According to CBA, exchange rate of manat against dollar has strengthened by 4% since early 2017 and this has reducing impact on inflation expectations.


“According to the State Statistical Committee, annual average inflation made up 13.7% in ten months of 2017. The dynamics of prices has been changed by the factors such as inflation import, changes in prices of goods and services set by the state, inflationary expectations, volume of supply on separate products. External factors of the inflation remain changeable. Global rise of some food products in the last month prevent reduction in inflation rate. Although several factors of expenditure caused increase in the inflation expectations in some fields, generally, decline trends were observed in expectation in the period. Despite the fact that annual inflation rate stabilized, mid- and long-term risks still remain”, the bank said.