Bank Of Baku

National Bank: Inflation rate under 9% in 2006

National Bank: Inflation rate under 9% in 2006
# 12 December 2006 13:58 (UTC +04:00)
Inflation rate reached 8 percent during the period of January-November, National Bank of Azerbaijan Management Board Chairman Elman Rustamov said, APA reports.
“We forecast average inflation rate will not exceed 9%,� he said.
He said that coming holidays will not intensify the inflation.
“People buy a lot on the eve of holidays. Inflation rate always goes up in December, but the Central Bank takes note of this factor. We anticipate the rate to be between 1% and 1.5% this month,� he said. /APA/
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