Baku, Azerbaijan, April 28
By Zeyni Jafarov - Trend:
Inflation in Azerbaijan is expected to make up 3.5 percent in 2021 against 2.8 percent in 2020, ‘Asian Development Outlook 2021’ report of the Asian Development Bank (ADB) said, Trend reports on Apr.28.
According to ADB’s forecasts, in 2022 the inflation rate in the country will decrease to 3 percent as a result of the projected decline in domestic food prices.
At the same time, the bank's analysts believe that in the event of an increase in tariffs for communal services in Azerbaijan, the inflation rate may turn out to be higher than the projected figure. However, a controlled exchange rate of the national currency will limit the impact of import prices on inflation, said the report.
Earlier, the State Statistical Committee reported that the average annual inflation in Azerbaijan at the end of March 2021 was 3.9 percent. Meanwhile, the Central Bank of Azerbaijan noted that the forecast for inflation in the country remains within the target range of four percent.
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