Central Bank of Azerbaijan says inflation forecast for 2024 remains unchanged

The inflation forecast for 2024 remains unchanged, said Taleh Kazimov, the Governor of the Central Bank of Azerbaijan (CBA), during a press conference on the interest rate corridor parameters, News.Az reports.

According to January`s projections, annual inflation is expected to remain within the target range, Kazimov noted.

“The annual inflation rate has slowed down since the last monetary policy meeting of the Board of Governors. In 2023, the 12-month inflation rate stood at the lower limit of the target range, amounting to 2.1 percent. A decrease in inflation was observed across all components of the consumer basket. Annual food inflation was recorded at 0.8 percent, while non-food and services inflation reached 2.7 percent and 3.7 percent, respectively. Current inflation dynamics have also influenced inflation expectations,” he added.


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