BAKU, Azerbaijan, October 31. The Central Bank of Azerbaijan (CBA) forecasts a slowdown in inflation in the country in 2023, Trend reports citing CBA.
The inflation in Azerbaijan was 3.1 percent in September, the highest monthly inflation in 80 months.
"Inflation forecasts for the end of 2022 have been raised. In the third quarter, actual inflation exceeded expectations, including due to the revision of prices and tariffs for services regulated by the state. But Central Bank confirms the forecast that annual inflation in 2023 will be lower than in 2022," the CBA said.
According to the CBA, annual inflation in September was 15.6 percent and the annual average - 13.4 percent
"Actual inflation leads to inflation expectations remaining high. According to surveys conducted in September, 20 percent of households expect inflation to rise over the next 12 months," the CBA stressed.