BAKU, Azerbaijan, January 12. The Fitch Solutions rating agency forecasted a slowdown in inflation in Azerbaijan in 2023, Trend reports via the agency.
According to the agency, consumer price inflation will decrease from 13 percent to 9.5 percent year on year.
“We don’t expect any easing of monetary policy in 2023, taking into account the refinancing rate, which is 8.25 percent. The rapid recovery of the economy from the COVID-19 pandemic is also evidenced by the growth in household lending,” the agency said.
“This also became possible due to the tightening of the refinancing rate by the Central Bank of Azerbaijan (CBA) amid rising inflation," added the agency.
According to the CBA, in November 2022 the monthly inflation in the country amounted to one percent, and the annual core inflation - 14.7 percent.