In the past year, inflation has continued to rise, and the forecast for inflation has been increased to double.

The EPA reports that this is reflected in the Bill of the Republic of Azerbaijan on Amendment to the Law of the Republic of Azerbaijan on the 2023 State Budget of the Republic of Azerbaijan, which was discussed at a meeting of the National Assembly's Economic Policy, Industry and Enterprise and Labour and Social Policy Committees.

It has been noted that the calculations have given reason to say that average annual inflation will be around the predicted indicator. In January-April 2023, the average annual inflation rate was 13.5 percent, followed by a double-digit price increase in each of the three subgroups of the consumer basket. Base inflation, which is calculated without taking into account government-regulated products and services, as well as seasonal agricultural products, was 3.12% in the average annual assessment. According to the preliminary forecasts, average annual inflation was expected to be 9.2023% in 6, but the revision revised the indicator to 9.10%, which is 4.3 percentage points higher than the original forecast.

Recall that the Accounting Palace commented on the 2023 government budget project that 6.9% of average annual inflation was optimistic. The explanation for the revision noted that the summary budget for the 1st round of the current year, including the increase in government budget revenues, is also conditioned by high inflation. In other words, the fact that inflation is calculated using a cautious approach to initial forecasts has already contributed to the implementation of budget parameters. Estimates from our side are estimated to be an additional 3215.5 million. Without taking into account the increase, the manat gives reason to say that average annual inflation will be around an honest figure by the end of the year.