Consumer prices in Azerbaijan rose 0.8 percent month-over-month in December 2018, up from a 0.6 percent increase in the prior month. It is the highest monthly inflation rate since August, as prices went up faster for food (1.7 percent vs 1.2 percent in November). Meantime, cost advanced at the same pace for non-food products (0.2 percent) and services (0.1 percent). On a yearly basis, inflation stood at 2.3 percent, unchanged from the previous month, at the lowest level since February 2015. Inflation Rate Mom in Azerbaijan averaged 0.54 percent from 1995 until 2018, reaching an all time high of 12.50 percent in February of 1995 and a record low of -5.93 percent in December of 1998.
Inflation Rate Mom in Azerbaijan is expected to be 0.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate Mom in Azerbaijan to stand at 0.90 in 12 months time. In the long-term, the Azerbaijan Inflation Rate MoM is projected to trend around 1.00 percent in 2020, according to our econometric models.