Inflation rate makes 11 per cent in Azerbaijan in first half of 2016

The inflation rate in Azerbaijan was about 11 per cent in the first half of 2016, the Baku-based APA news agency reported on 8 June.


"The prices of consumer goods and customer services increased by 10.4 per cent, food - 11.9 per cent, non-food products - 15.3 per cent, and paid services rendered to the people increased by 4.4 per cent in January-May 2016 compared to the same period of 2015," APA cited the State Statistics Committee as saying.


BBCM note: On 21 December, Azerbaijan's Central Bank devalued the national currency - manat - against the dollar by 47.63 per cent. Earlier in 2015, Azerbaijan spent more than half of its hard currency reserves as it tried to shore up the currency as global oil prices fell. Since the first devaluation of the manat in February 2015, this currency has lost more than 100 per cent of its value.

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