Inflation in Azerbaijan will reach upper limit of target range in 2021 - CBA's head

By Trend

Average annual inflation in Azerbaijan in 2021 will reach a level close to the upper limit of the target range, Elman Rustamov, head of the Central Bank of Azerbaijan (CBA), said at a press conference, Trend reports.

"In the first half of the year, inflation in Azerbaijan amounted to 4.7 percent," Rustamov said.

According to him, anti-inflationary conditions remain as a result of monetary policy.

After the last decision of the CBA on the discount rate, deflation of 0.5 percent was recorded, added the bank’s head.

On July 30, the Board of the Central Bank decided to keep the discount rate at 6.25 percent. The next decision on the discount rate will be made on September 17.