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Azeri Economy Ministry forecasts inflation at 7.3 pct in 2017

Azeri Economy Ministry forecasts inflation at 7.3 pct in 2017
04.11.2016 23:30
Azerbaijan's Economy Ministry said on Friday it projected annual inflation to be 7.3 percent in 2017, down from 12.1 percent expected this year.

The ministry disclosed its projection in an emailed response to a Reuters question.

Annual inflation in oil-rich Azerbaijan in January-September was 11.2 percent.

Inflation has been pushed up this year by a devaluation of the manat currency. Consumer prices grew by 4 percent in 2015.

The International Monetary Fund projects average 2016 inflation in Azerbaijan at 10.2 percent in 2016 and 8.5 percent in 2017.

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