Azerbaijan holds first meeting of working group on inflation and price monitoring

According to the instructions given at the meeting held on July 11, 2023, chaired by President Ilham Aliyev and dedicated to the socio-economic results of the current year's first six months, the Cabinet of Ministers of the Republic of Azerbaijan established a working group, following a decree on July 15, reports.

The tasks assigned to the working group include ensuring a reduction in inflation in Azerbaijan to a level acceptable for economic growth, further improving the analysis and monitoring system to quantitatively and qualitatively assess inflationary processes and their causes, and enhancing interdepartmental coordination in this area.

On July 21, 2023, the first meeting of the working group was held under the chairmanship of Rufat Mammadov, the head of the Cabinet of Ministers' Apparatus.

During the meeting, extensive discussions were held on matters such as a more in-depth examination of prices for various goods and services included in the consumer basket, including a closer examination of changes in price indices for agricultural and industrial products, inflation among trading partners, as well as the impact of price indices for imported goods and prices in the domestic market concerning import inflation, factors that contribute to and mitigate inflation, and the implementation of anti-inflationary measures. Additionally, the discussions covered issues related to ensuring fair competition, preventing price manipulation in the domestic market, and strengthening anti-monopoly measures.

As a result of the meeting, specific tasks were assigned to relevant structures concerning the topics discussed.

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