Azerbaijan's Central Bank reveals key factors of inflation

The Central Bank of Azerbaijan has identified the key factors currently driving inflation in the country.

Report informs, quoting Taleh Kazimov, the chairman of the Central Bank, that the appreciation of Azerbaijan's trading partners is contributing to the rise in inflation.

On the other hand, Kazimov noted that the increase in the nominal effective exchange rate of the Azerbaijani manat is helping to curb inflation.

During a briefing, the chairman also announced that the Central Bank has revised its annual inflation forecast.

"We have lowered our inflation forecast for this year by 0.3 percentage points to 5.1%, while for the next year, we have raised the inflation forecast by 0.3 percentage points to 5.8%," Kazimov stated.