11:53 - 1.05.2024

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May 1, Fineko/abc.az. The Central Bank of Azerbaijan (CBA) reduced the inflation forecast for 2024 (April forecast: 3.5% for 2024 and 4.2% for 2025).

ABC.AZ reports that in general, the risks of increasing and decreasing inflation balance each other: "If the current conditions remain unchanged, the annual inflation in 2024 and 2025 is expected to remain within the target (4±2%). In April, the inflation forecast for 2024 was changed in the direction of decreasing," the CBA stated.

"Since the last meeting, the annual inflation rate has continued to decrease. In March of this year, 12-month inflation was 0.4%, and 12-month base inflation was 1%. Annual food deflation was 1.1%, non-food inflation was 1.1%, and service inflation was 2.2%," bank’s statement says.