Bank Of Baku

National Bank of Azerbaijan predicts annual inflation rate at 20%

National Bank of Azerbaijan predicts annual inflation rate at 20%
# 11 November 2008 16:27 (UTC +04:00)
Baku. Rashad Suleymanov - APA-Economics. Annual inflation is expected to reach 20% in Azerbaijan, said Elman Rustamov, Chairman of the National Bank of Azerbaijan.
He added that there is an inflation slowdown in Azerbaijan and around the world at present.
”In August-October, monthly inflation rate was 1.7%, down more than 2 times on the same period last year. During October, average monthly inflation stood at 1.5%, which is observed for the first time in 24 months. According to our forecasts, inflation rate would be significantly below last year’s level in November and December,” he added.
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