CBA forecasts 3-4% inflation at year-end

Baku. 30 October. REPORT.AZ/ Annual inflation in the nine months of 2018 made up 2.6%, which is down from Central Bank of Azerbaijan’s (CBA) target corridor on price rise (6-8%), CBA Chairman Elman Rustamov said at the press conference, Report informs.

"CBA forecasts 3-4% inflation at the end of this year amid softening external and internal risk factors," he said.

He also noted that change in the interest rate in the future will depend on conformity of the forecasted infllation to the announced target interval.

"Inflationary expectations of the business sector decline due to decrease in expectations on price rise in trade and service sector. Current dynamics of the consumption prices conditions the stabilization of inflationary expectations. Recent macroeconomic forecasts indicate that the inflation will be 3-4% at the end of this year," he added.