Central Bank of Azerbaijan Predicts Inflation Within 6% By End Of 2023
The Central Bank of Azerbaijan forecasts annual inflation at 6% for 2023, Central Bank Chairman Taleh Kazimov said.
“Based today on August indicators, annual, 12-month inflation is 8%. According to our forecasts, at year-end, inflation will be within 6%,” he said in an interview with state TV channel AzTV.
At the end of 2022, annual inflation in the country was 14.4%, and average annual inflation was 13.9%.
Kazimov said that the Central Bank’s target is “to keep inflation at 4% plus/minus 2%.”
“We believe this goal is very important for the development of our economy,” he said.
Based on the results of 2023, the Ministry of Economy of Azerbaijan forecasts average annual inflation at 9.5%