ADB sharply increases its inflation forecast for Azerbaijan

The Asian Development Bank (ADB) predicts inflation in Azerbaijan to be at 11.5% this year, said the Bank's Asian Development Outlook for September, Report informs.

According to the document, this indicator is 4.5 percentage points higher than the ADB's April forecast.

The bank increased its inflation forecast in Azerbaijan by 1.7 percentage points to 7% next year.

ADB expects inflation in the Caucasus and Central Asia region to be 11.5% (2.7 percentage points higher) this year and 8.5% (1.4 percentage points higher) next year.