(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 28. The inflationforecast for 2024 remains unchanged (the forecast for January ofthe current year was 5.3 percent), Trend reports.
According to the Central Bank of Azerbaijan (CBA), overallupward and downward risks to inflation offset each other.
"The annual inflation is expected to remain within the targetrange (4±2 percent) in 2024 if current conditions remain unchanged shows that there is a possibility of changing the annualinflation forecast downwards for the rest of the year," the CBAsaid.
The CBA mentioned that annual inflation rates have continued todecline since the last session.
"In February 2024, the 12-month inflation rate was 0.8 percent,and the 12-month core inflation was 1.4 percent. Annual fooddeflation stood at 0.3 percent, non-food inflation at 1.4 percent,and service inflation at 2.3 percent. The decrease in annualinflation is influenced by both external and internal factors," theCBA emphasized.
Previously, analysts from the Dutch ING predicted average annualinflation in Azerbaijan in 2024 at 4.4 percent, the UN - 5.9percent, and the International Monetary Fund - 4.7 percent.
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