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EBRD: Inflation to gradually grow in Azerbaijan

EBRD: Inflation to gradually grow in Azerbaijan

26 January 2010 16:39 (UTC +04:00)

Baku. Nijat Mustafayev - APA-ECONOMICS. The European Bank for Reconstruction and Development (EBRD) has announced its outlook for 2010 inflation in Azerbaijan.

According to Anita Taci, a senior economist for the EBRD, the inflation rate will reach 6.5% in 2010 with gradual rise in subsequent years.

"The rise in inflation is mainly due to higher prices and consumer demand for energy. However, inflation is expected to be lower than the rate marked in 2008,â€ she added.

The government of Azerbaijan expects inflation to be 5-7% in 2010.

Azerbaijan saw inflation 20.8% in 2008 and 1.5% in 2009.

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