Azerbaijan has highest consumer price growth among South Caucasus countries

In January-April this year, average annual inflation (as compared to the same period in 2022) in Azerbaijan made up 13.5%, that is by 0.3 percentage points less than a month earlier, the State Statistics Committee said. At that, in January-April last year the inflation rate was slightly lower - 12.4%.

During the first four months of this year, food products rose in annual terms by 17.2%. In general, foodstuffs, including alcohol and tobacco, were retailing at an average price 16.6% more expensive during this period than in the same period in 2022.

The price index for non-food products grew by 11.8% during this period, while for paid services to the population - by 10.7%.

According to SSC's calculations, this April consumer price index in Azerbaijan was up by 12.8% from April last year (annual inflation).

Monthly inflation (April to March) made up 0.3%. As compared to March this year the food prices have grown by 0.3% on average, including alcoholic drinks by 0.4% and cigarettes by 3.3%. Non-food products rose by 0.3% over the month, while paid services to the population - 0.4%.

According to the SSC calculations, the prices for bread, bakery products and cereals dropped by 0.5% on average over the month; butter and vegetable oil - by 0.6%; fish and fish products - by 0.6%; eggs - by 2.8% and vegetables - by 1.7%. Meat and meat products continued to rise in prices: if in March these goods were 2.1% more expensive in the counters than in February, in April this figure stood at 1.4%.

In February this year the government raised fares on public transport (metro, intercity and suburban bus lines) by 33% and on intercity bus lines by 25%.

It ought to be noted that the highest annual inflation rate in the South Caucasus is recorded in Azerbaijan. Inflation in Armenia in April 2023, as compared to April 2022, was 3.2%, while in Georgia - 2.7%.

Source: Turan News Agency