Basic inflation on results of January-August 2005 will comprise 2.2 %, annual figure will be less than 10% in 2005 and next years, Elman Rustamov, the head of the National Bank of Azerbaijan, said.
“Basic inflation on results of eight months made up 2.2%. Inflation in Azerbaijan will not exceed single-digit figure,” Rustamov said.
In 2005 the National Bank forecasts basic inflation no more than 5%, consumer inflation вЂ" no more than 9%. In January-July consumer prices grew by 12.3% against 5.9% over similar period of 2004.
In September the government will discuss the public budget for 2006 and major directions of the monetary and credit policy, which will be adopted by the Parliament in October or a month ahead of time due to the forthcoming 6 November parliamentary elections.
“The major goal is not to exceed inflation figure,” Rustamov said.