Azerbaijan had 0.5% inflation in Dec, average rate for year slowed to 8.8%

BAKU. Jan 15 (Interfax) - Consumer prices in Azerbaijan rose 0.5% in December after falling 0.2% in November, the State Statistics Committee told Interfax.

Foodstuffs and beverages rose 1% in price in December, non-food goods were unchanged and service charges went up 0.1%

The average annual inflation rate slowed to 8.8% in 2023 from 13.9% in 2022, with prices rising 9.6% for food, 8.4% for nonfood goods and 8.2% for services.

The Economy Ministry forecast an average annual inflation rate of 9.5% for 2023.