CBA keeps inflation forecast for 2024 stable

The Central Bank of Azerbaijan (CBA) kept the inflation forecast for 2024 stable (January forecast: 5.3%), Report informs, citing the Bank.

According to the information, in general, the increasing and decreasing risks of inflation balance each other: "If the current conditions remain unchanged, the annual inflation this year is expected to remain within the target (4±2%). Analyses show that the annual inflation forecast for the rest of the year is likely to be changed in the direction of reduction," the CBA stated.

"Since the last meeting, the annual inflation rate has continued to decrease. In February of this year, 12-month inflation was 0.8%, and 12-month base inflation was 1.4%. Annual food deflation was 0.3%, non-food inflation was 1.4%, and service inflation was 2.3%," the bank said.