Inflation reduction shows one of last year's positive indicators - Azerbaijani PM
One of the positive macroeconomic indicators achieved in 2023 is the reduction of inflation, said Prime Minister Ali Asadov in the Milli Majlis (Parliament) during the discussion of the report on the activities of the Cabinet of Ministers in 2023, News.az reports.
The Prime Minister highlighted that the government's anti-inflationary measures, maintenance of balance in the currency market, adherence to the parameters of the adopted budget rule, and decisions on monetary policy have helped alleviate inflationary pressure.
"The Cabinet of Ministers has formed a working group to monitor inflation and prices, tasked with studying and analyzing inflationary processes and their underlying causes. Additionally, a "Price Tracking App" system has been developed to monitor price growth dynamics and facilitate timely and flexible interventions. These efforts have led to an average annual inflation rate of 8.8 percent in 2023, with annual inflation standing at 2.1 percent," Ali Asadov added.
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