BAKU, Azerbaijan, October 10. The Central Bank of Azerbaijan (CBA) predicts that annual inflation will be within six percent by the end of 2023, the Chairman of the CBA, Taleh Kazimov said, Trend reports.
"The consumer price index was 108 percent in August this year compared to the same period last year. In addition, goods and services have risen in price by eight percent. This applies to both food and non-food products. Forecasts show that annual inflation will be in the range of six percent by the end of this year. This is close to the target range of the CBA (4+-2) and is important for economic development. Our main goal is to manage inflation," Kazimov said.
In addition, he noted that the sharp changes in the exchange rates of the national currencies of Azerbaijan's main trading partners do not have a direct impact on the local foreign exchange market or the exchange rate of the national currency.
"In this case, our inflation decreases in the short term, that is, within three to six months, because the goods imported from these countries are getting cheaper," the CBA chairman said.