Ali Asadov: double-digit inflation in Azerbaijan was formed due to the 60% increase in the price of food

Ali Asadov: double-digit inflation in Azerbaijan was formed due to the 60% increase in the price of food
In the last period of the current year, the double-digit inflation in Azerbaijan was mainly formed due to the increase in the price of food by more than 60%.

Qazet.az reports that Prime Minister Ali Asadov said this at the plenary session of the Milli Majlis held today.

According to him, the main risks of the global inflationary environment, external cost factors are the main reasons that increase inflation:

"Recently observed regional and global geopolitical tensions, the military conflict between Russia and Ukraine and the large-scale economic sanctions applied in connection with it, disruptions in the global production and supply chain, high energy prices, as well as the increase in transportation and logistics costs have led to the increase in world food prices and food shortages. , caused inflation to reach a double-digit level in most countries".

A. Asadov said that the weakening of the global growth rate against the background of high inflation puts the world economy in recession: "As Mr. President noted, it is difficult to predict what the global situation will be. It is only clear that the world will never be in the state it was in before February. .

In a word, the main risks of the global inflation environment, external cost factors are the main reasons that increase inflation. Azerbaijan, which has integrated into the global economy, is also facing inflationary pressures. In the past period of the current year, the annual growth rate of import prices was 22%, and the average annual inflation in our country was double-digit (13.8%)."