What is the inflation rate of Iran's northern neighbors?
News_Code: 355017 1/19/2021 9:51:43 AM
What is the inflation rate of Iran's northern neighbors?
Armenia's inflation rate reached its highest level in two years.
 

According to Trading Economics, inflation in Azerbaijan remained unchanged for the third month in a row; Until the end of the 12 months to December, inflation in the country remained at 2.8 percent, the lowest inflation rate in the last six months.

With a 5.4 percent increase in prices, food and beverages have been the biggest price drivers in the country, followed by home appliances with 5.1 percent inflation.

On the other hand, the lowest inflation rate is related to transportation with negative inflation of 4.8 percent and tobacco with negative inflation of 1.4 percent in the next category.  

Between 2007 and 2020, the highest inflation in Azerbaijan was in April 2008 with 24.5%, and the lowest inflation rate was in May 2009 with a negative 1.8%.

By the end of the 12 months to December, inflation in Armenia had risen from 1.6 percent a month earlier to 3.7 percent, the highest rate in two years. Food and beverages with inflation of 10.9 percent have been the country's biggest price drivers, followed by healthcare with inflation of 4.9 percent and transportation with inflation of 4.7 percent.

On the other hand, the lowest inflation rate was related to home appliances with 0.9 percent. On a monthly basis, the country's inflation rate was measured at 3.4 percent in December, which was 0.9 percent higher than the previous month's inflation. The average inflation rate in Armenia from 1993 to 2020 was 548.5 percent, with the highest inflation in June 1994 at 22,887.40 percent and the lowest inflation rate in March 1999 at minus 5.52 percent.

Armenia's Central Bank Governor Arthur Javadian has said that current monetary policy will be maintained.