UN forecasts inflation rate in Azerbaijan for 2020-2021

UN forecasts inflation rate in Azerbaijan for 2020-2021
  • Clock-gray 16:24
  • calendar-gray 28 January 2020

Consumer price index in Azerbaijan is expected to increase by 2.8% this year in comparison to 2019, APA-Economics reports citing the new forecast of the UN.

Inflation in the country is expected to be 2.8% in 2020, while 3% level in the next year.

According to the forecast of UN the highest inflation level among the CIS countries is expected in Uzbekistan and Turkmenistan. In 2020, the consumer price index in these countries is forecasted to be  10.1% and 8% respectively, and the next year 8.9% and 6% respectively.

The lowest inflation level is expected in Kyrgyzstan. According to the forecasts of the UN, inflation will be 1.5% this year, while 2% in 2021 in the mentioned country.
Generally, average inflation level of the CIS countries will be 4.4% and 4.1% in 2020 and 2021 respectively.
Note that, in accordance with official forecasts of the Azerbaijani government, inflation will be 4.6% in 2020 and last target of the money policy of the country will be keeping the inflation at 4±2% corridor.

Mirsaid İbrahimzade

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