The Asian Development Bank (ADB) has maintained its forecast for Azerbaijan's average annual inflation at 5.7% in 2026 and 4.9% in 2027, according to the bank's July edition of the Asian Development Outlook.
The projections are unchanged from its April forecast.
According to Azerbaijan's State Statistical Committee, average annual inflation stood at 5.6% in 2025, up from 2.2% in 2024.
The Azerbaijani Ministry of Economy expects average annual inflation to reach 4.8% in 2026 and 4.5% in 2027. Meanwhile, the Central Bank of Azerbaijan forecasts annual inflation at 5.5% in 2026 and 4% in 2027.
Other international institutions have issued differing projections. The United Nations expects inflation in Azerbaijan to reach 3.1% this year, while the World Bank forecasts average annual inflation of 2.3% in 2026.
Among private forecasters, Moody's projects average annual inflation at 3% this year, Fitch Ratings expects 4.6%, Fitch Solutions forecasts 5.5% for 2026 and 4.8% for 2027, while ING Group projects inflation of 5.8% in 2026 and 5.6% in 2027.