17:28 - 11.02.2022

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February 11, Fineko/abc.az. According to official data, annual inflation in Azerbaijan in 2015 was 4%, in 2016 - 12.4%, in 2017 - 12.9%, in 2018 - 2.3%, in 2019 - 2.6%, in 2020 - 2.8%, in 2021 - 6.7%.

ABC.AZ reports that this was reflected in the statement of the State Statistics Committee. It was noted that food inflation rates were higher.

According to official inflation data, over the past 6 years, the purchasing power of the Azerbaijani manat has decreased by about 50%.

It is reported that real inflation is at least 2 times higher than the official one. Each of us sees that the SSC data on price growth (inflation indicators) is much lower than the price growth in the markets.

A decrease in the purchasing power of the national currency with high inflation increases the pressure of another devaluation on the manat. Today, it is impossible to buy the same amount of goods and services for 170 manats in exchange for every 100 dollars. It takes about 250 manats to buy the same amount of goods and services today.

Due to the negative impact of the coronavirus pandemic and climate change, prices are rapidly rising in the world, and the purchasing power of national currencies of countries is decreasing. The purchasing power of the Azerbaijani manat is falling. Azerbaijan, integrated into the global economy, is also experiencing an increase in prices for products with small local production or with a predominance of imports. The share of food products in the formation of inflation was high. Food inflation accounts for about 60% of total inflation.