Baku expects 10-12% inflation

Azerbaijani Finance Minister Samir Sharifov said today that the inflation forecasts in the country are at the level of 10-12%. 

"This was provided in an updated concept of socio-economic development, prepared by the Ministry of the Economy. The devaluation of the manat influenced prices on the consumer market,’’ he said.

According to Trend, inflation in Azerbaijan was 4% in 2015 and 1.4% in 2014. At the same time, food rose in price by 6.1% last year, other goods by 3.8%, service tariffs by 1.2%.

Last year, after two successive devaluations, the value of the manat almost halved.