CBA talks impact of increase in public transport fares on inflation

BAKU, Azerbaijan, The decision of Azerbaijan’s Tariff Council to increase the public transport fares will have a slight impact on the inflation forecast for 2023, Director General of Azerbaijan’s Central Bank (CBA) Vugar Ahmadov said at the press conference on changes in the interest rate, Trend reports.


According to him, the CBA will monitor the market quarterly in order to update inflation forecasts for 2023.


“Our baseline scenario, based on which the inflation forecast for 2023 is made at 8 percent, considers all aspects that can somehow put pressure on or weaken inflation,” he added.


A regular meeting of the Tariff Council was held on January 31, at which it was decided to increase the metro and bus fares to 40 gapiks.


Source: TREND State News Agency