The Azerbaijani government predicts an increase in consumer prices in Azerbaijan at the level of 6.9%. In 2021, the government’s inflation expectations were also univocal.

“Strengthening the coordination of fiscal and monetary policy in order to protect macroeconomic stability will help maintain a stable exchange rate of the national currency at the level of the current year – 1 US dollar = 1.7 manats,” the government believes.

Over the nine months of this year, annualized inflation was 13.4%, while food inflation was 19.3%. Retail prices continued to rise in October as well. However, the government expects average annual inflation for 2022 at 12.5%.

Recall that when drawing up the draft budget for 2022, the Azerbaijani government made rather optimistic inflation forecasts – 4%.

Source: Turan News Agency