Annual inflation in Azerbaijan exceeds deposit rates offered by banks

The term deposits in Azerbaijani banks increased by AZN 52.4 million last month.

banks.az reports that term deposits grew by AZN 160.2 million last November and by AZN 80.2 million in December.

The decrease in the growth rate of term deposits from month to month indicates a decrease in demand for manat deposits in parallel with inflation.

Annual inflation in Azerbaijan (12.5%) exceeded the deposit rates offered by banks (mainly about 6-11%).

In short, depositors faced a real loss.