Annual inflation will decrease to single-digit level next year, central bank chairman says

Kanan Sadigov
Author

The annual inflation will gradually decrease to a single-digit level with the favorable change of external factors in Azerbaijan next year, Chairman of the Central Bank of Azerbaijan Taleh Kazimov told an online press conference.

Report quotes him as saying seasonal factors are expected to reduce inflation this and next month.

"The forecast that annual inflation will be lower than the current rate by the end of this year due to basic factors remains unchanged," he added.

Kazimov said that the CBA predicts annual inflation in Azerbaijan in the range of 12.5-12.8% by the end of this year: "In the last 2 months, we have observed a decrease in food prices due to seasonal factors. In addition, the value of logistics services is also decreasing, if this trend continues , we can revise our predictions."

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