Central Bank of Azerbaijan predicts gradual decline in annual inflation in country in 2023

Central Bank of Azerbaijan predicts gradual decline in annual inflation in country in 2023

According to forecasts, annual inflation in Azerbaijan will gradually decrease to single digits with a favorable change in external factors in 2023, Governor of Central Bank of Azerbaijan (CBA) Taleh Kazimov said at a press conference, on July 29, Trend reports.

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

On July 29, 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.