Central Bank of Azerbaijan predicts gradual drop in annual inflation next year

Annual inflation in Azerbaijan is predicted to gradually drop to single digits with a favorable exchange in external factors in 2023, Chairman of the Central Bank of Azerbaijan Taleh Kazimov said at a press conference on Friday, News.Az reports.

“It is expected that seasonal factors will have a restraining effect on inflation in July and in August,” Kazimov said.

On Friday, the CBA decided to leave the base rate unchanged - at the level of 7.75 percent, on July 29.

The upper limit of the interest corridor remained at the level of 9.25 percent, and the lower limit at the level of 6.25 percent.


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