On July 17, Azerbaijan Prime Minister Ali Asadov signed an order, and a working group has been established in Azerbaijan to strengthen the monitoring of inflation and prices. 

The order recognizes the ongoing geopolitical tensions, economic sanctions, and pandemic consequences that continue to influence inflation. "Continuation of geopolitical tension in the world, applied economic sanctions, the consequences caused by the pandemic have not yet completely disappeared, the worsening of climate change and uncertainties related to the global economy's prospects are affecting inflationary processes. Considering the activation of internal and especially external inflation factors in the country, important work has been done to form a framework for effective struggle with price increases. The anti-inflationary measures implemented in this direction have created a foundation for preventing a sharp increase in inflation," the information said.

According to the order, the working group was established to ensure the reduction of inflation in the country to an acceptable level for economic growth, to improve further the analysis and monitoring system that allows quantitative and qualitative assessment of inflation processes and its causes, as well as to strengthen inter-agency coordination in this field.

Taleh Kazimov, the Chairman of the board of the Central Bank of Azerbaijan (CBA), said at the meeting of the Economic Policy, Industry, and Entrepreneurship Committee of the Parliament that the level of inflation was 12.8% in April. "We are worried about inflation. In April, the level of inflation was 12.8%. The main thing here is the increase in food prices. According to the forecasts for April, the annual inflation will be 8.3% at the end of the year. The inflation forecast for January was 7.9%," he said.