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Azerbaijan’s Inflation Rate Falls to 1.2% in First 11 Months

Azerbaijan’s inflation rate fell to 1.2 percent in the first 11 months of 2012 from 8 percent a year earlier, the State Statistics Committee, based in the capital, Baku, said today on its website.

Slowing consumer prices led the energy-rich Caspian Sea nation’s central bank to cut its benchmark interest rate a quarter-point to 5 percent this month.

To contact the reporter on this story: Zulfugar Agayev in Baku at zagayev@bloomberg.net

To contact the editor responsible for this story: Hellmuth Tromm at htromm@bloomberg.net

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