12:13 - 26.07.2023

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July 26, Fineko/abc.az. Reduced prices on the global commodity markets and the return of international freight costs to pre-pandemic levels have had a reducing impact on inflation in Azerbaijan.

ABC.AZ reports that CBA chairman of board Taleh Kazimov stated about this during a press conference on changes in the parameters of the discount rate.

He noted that according to estimates, the average inflation among trading partner countries in June of this year has decreased by more than twice compared to the peak level observed last October.

“According to WB’s latest report on commodity markets, prices of raw materials fell by 37.1 percent year on year in June, including energy prices by 45.1 percent and non-energy prices by 15.1 percent. Meanwhile, according to the UN Food and Agriculture Organization, food prices decreased by 20.9 percent year on year,” Kazimov said.