The European Bank for Reconstruction and Development (EBRD) forecasts a 3.8 percent inflation rate in Azerbaijan which is one of the lowest in the CIS area, the bank's report 'Regional economic prospects in the countries where EBRD conducts transactions', said on Tuesday. The latest report was published in October 2013.
A 2.6 percent inflation rate will be observed in Ukraine. This index is lower than in Azerbaijan among the CIS countries, according to EBRD expectations.
EBRD forecasts an 3.9 percent inflation in Armenia, 4.4 percent in Tajikistan, 4.7 percent in Moldova, 5.4 percent in Kyrgyzstan, 5.6 percent in Russia, 5.7 percent in Turkmenistan, 5.9 percent in Kazakhstan, 11 percent in Uzbekistan and 14.5 percent in Belarus in 2014.
Moreover, EBRD expects a 4.1 percent inflation rate in Georgia, according to the report.
As of 2013, Azerbaijan had a 2.4 percent inflation rate.
"Azerbaijan must try to preserve inflation this year at the same level as last year," Azerbaijani President Ilham Aliyev said at a meeting of the Cabinet of Ministers dedicated to socio-economic development in 2013 and the upcoming challenges in 2014.